Reform UK has committed to reducing public spending by £80bn within five years through reductions in welfare, net zero initiatives, overseas aid and the civil service, party officials announced at the organisation's conference in Birmingham.
Economic spokesman Robert Jenrick outlined the proposal at a fringe event, stating that Reform would pursue tax cuts in its first Budget if elected but would need to first
"earn the trust" of the markets. He characterised Reform as
the "party of fiscal responsibility"and pledged to implement
"big changes... in a careful way, not a cack-handed way".
However, according to recent reporting, Jenrick has since indicated that Reform now aims for cuts exceeding £100bn in its first 100 days in office, including a £28bn annual reduction in debt interest costs alongside the previously announced welfare reductions. The spending cuts represent roughly 6% of total government expenditure.
Labour responded by characterising the proposed reductions as
"incredibly reckless and could mean vital public services like hospitals, schools and law enforcement are put at risk".
Where would the cuts come from?
The largest portion of Reform's proposed savings—£50bn—would derive from welfare reductions. An additional £10bn would be saved through eliminating net zero programmes, £8bn from reducing the civil service workforce, and £7.1bn from capping the foreign aid budget. The party contends that its immigration policies, including the abolition of indefinite leave to remain, would generate further savings.
Reform's welfare package, according to earlier reporting, includes cuts to disability benefits and stricter eligibility rules for foreign nationals accessing benefits. The proposals have drawn scrutiny regarding their feasibility and potential impact on vulnerable populations.
How would Reform manage market confidence?
Jenrick emphasised the importance of avoiding the market turmoil that followed former Prime Minister Liz Truss's 2022 budget. He said it was crucial to
"learn the lessons of [former Prime Minister] Liz Truss" who he said "basically went into a sweetie shop, took everything off the shelves and stuck it into a budget".
"Quite rightly the markets reacted very negatively to that."
To build investor confidence, Jenrick has written to major holders of UK government debt and plans meetings in London and New York to discuss the party's proposed fiscal rules, with the aim of reducing the cost of government borrowing. Reform's Treasury team has suggested that around £30bn a year in savings could be achieved through lower government borrowing costs if markets accept its fiscal plans.
Jenrick was a health minister in 2022 when Truss's proposal to deliver substantial energy bill subsidies and £45bn in additional spending destabilised market confidence in the UK's financial credibility.
What would Reform protect?
Despite earlier suggestions that Reform wanted to cut inheritance tax, Jenrick indicated this would not be a priority, arguing that relatively few people were affected by it.
"It's a bold chancellor that would say I'd rather privilege 36,000 families than 40 million [income] taxpayers,"he said.
Reform has committed to maintaining the triple lock—the mechanism ensuring pensions rise by either 2.5%, the inflation rate, or the rate of average earnings, whichever is highest. The triple lock is estimated to cost £15.5bn annually by 2030, but Jenrick argued he could not look pensioners
"in the eye" and cut their income "while there is so much waste in the public sector". He stated it would be
"fundamentally unfair going to pensions before we have made hard choices elsewhere".
What are Reform's housing proposals?
Business spokesman Richard Tice outlined several proposals aimed at increasing house building on brownfield sites—land that has previously been developed. The party would consult on measures including scrapping stamp duty, capital gains tax and rental income tax for a decade for homes built on brownfield sites.
Under the proposals, affordable housing requirements would be removed for brownfield developments outside major cities. Reform's policy document acknowledges that its plans would reduce tax receipts but argues that the additional homes built as a result would boost the economy.
Tice has also suggested cutting business rates for high street shops, offsetting the cost by increasing tax on online retailers.
What is the broader context?
Reform's conference at the Birmingham NEC takes place following a turbulent summer during which party leader Nigel Farage resigned and then re-ran in his Clacton constituency to address questions surrounding a £5m gift he received before becoming an MP. The party is also subject to a police investigation into donations made to it.
The main business of the conference is scheduled for Friday and Saturday, featuring speeches from Farage and other senior figures, as well as an address by Jordan Bardella, leader of the French far-right National Rally party.
What happens next?
Jenrick is due to deliver a major speech to the conference on Saturday, September 5, 2026. Following the conference, Reform's investor roadshow in London and New York is expected to take place, where the party will present its fiscal plans to major debt holders and financial institutions.
Reform's conference continues in Birmingham this week as the party sets out further policy details across multiple areas of governance.
