NIGEL FARAGE has suggested that Reform UK could consider lowering the minimum wage for younger workers, arguing that it may currently be “too high”.
Speaking during a wide-ranging press conference in the City of London, the Reform UK leader defended his party’s economic stance and addressed accusations of backtracking on tax commitments made in its 2024 general election manifesto.
Mr Farage said his earlier manifesto pledges to deliver sweeping tax cuts were “only ever aspirations”, admitting that “substantial tax cuts” are “not realistic” given the current state of the public finances.
“We want to cut taxes. Of course, we do,” he told reporters. “But we understand – substantial tax cuts, given the dire state of debt and our finances, are not realistic at this current moment in time.”
He added that the party would prioritise “modest changes”, including abolishing inheritance tax on family farms and family-run businesses, and raising the thresholds at which people start paying income tax. However, he did not specify new threshold levels.
Minimum wage debate
During the news conference, Mr Farage was asked whether he believed the minimum wage was too high. He replied: “There’s an argument that minimum wage is too high for younger workers, particularly given that we’ve lowered the level at which NIC [employers’ national insurance] is paid to £5,000 a year.”
His comments referenced Chancellor Rachel Reeves’s decision in the most recent Budget to reduce the threshold for employers’ national insurance contributions from £9,100 to £5,000.
Mr Farage argued that the change increases the tax burden on employers and risks stifling business growth. “Do one or the other – either lift the cap at which NI is due, or lower the minimum wage for younger workers,” he said.
At present, the national minimum wage stands at £7.55 for apprentices and those under 18, £10 for workers aged 18 to 20, and £12.21 for those aged 21 and over.
U-turn accusations
Critics have accused Mr Farage of abandoning key commitments from Reform UK’s 2024 manifesto, Our Contract With You. The document included proposals to raise the income tax threshold to £20,000, increase the higher rate threshold to £70,000, abolish stamp duty for homes under £750,000, and remove inheritance tax on estates valued below £2 million.
When pressed on whether the revised stance represented a U-turn, Mr Farage rejected the suggestion, insisting the manifesto’s policies had been “aspirations” rather than binding promises. “We’re being realistic about the state of the economy,” he said.
‘Not a one-man band’
Addressing claims that Reform UK revolves solely around him, Mr Farage said he was assembling a broader team of policy experts.
“What I’ve tried to do really hard this year is to get away from this idea, this criticism, that somehow it’s a one-man band. It’s not a one-man band,” he said.
“There’s a broadening team. They’re sitting there in front of you on the front row – from David Bull, to Lee Anderson, to Richard Tice, to Danny Kruger, and indeed Zia Yusuf as well. And there are others, and there’ll be more.”
Mr Farage declined to say who might serve as chancellor or hold senior Cabinet positions in a future Reform government.
Labour and Conservatives hit back
Labour accused Mr Farage of plotting “a return to damaging austerity” and attacking the living standards of young people.
A Labour spokesperson said: “Nigel Farage has promised a return to damaging austerity, taking an axe to public services, with no cuts off the table. He complained the minimum wage is too high for young workers, while doubling down on his golden giveaway to foreign billionaires.
“Reform would slash the NHS, schools, and pensions – and cancel Labour’s investment in local roads, rail, and clean energy, putting millions of jobs at risk and wreaking havoc on family finances.”
Meanwhile, Conservative shadow chancellor Sir Mel Stride said Mr Farage “left the public with far more questions than answers” and accused Reform UK of lacking coherence.
“After this rambling, incoherent speech, it is clear Reform’s economic policy is in chaos,” he said. “Farage might claim he’s not a ‘one-man band’, but he can’t even tell us who his chancellor would be. This is not serious – it’s just more announcements without a plan.”
