Starmer Criticises Farage’s Spending Plans as ‘Fantasy Economics ‘

Keir Starmer has launched a scathing attack on Nigel Farage’s economic proposals, warning they could trigger a financial crisis similar to the 2022 meltdown under Liz Truss. The prime minister described Reform UK’s spending plans as “fantasy economics” that would raise mortgage costs and harm working families.

Farage has pledged to scrap the two-child benefit cap and raise the personal tax allowance, claiming the changes would be funded through cuts to government departments, welfare reform, and abandoning net-zero targets. However, experts have criticised the costings as unrealistic.

Starmer pointed to recent economic gains under Labour, including growth leading the G7 and rising wages for low-paid workers. He argued that the Reform’s approach would reverse this progress and endanger financial stability.

The clash reflects growing tensions between Labour’s cautious fiscal policy and Reform UK’s more radical promises, as both parties vie for support ahead of the general election.