Farage’s ‘Britannia Card’: A Tax Break for the Rich or a Pay Rise for the Poor?

Nigel Farage has launched what he calls a “revolutionary” economic policy, and it’s already causing political whiplash. At a packed Reform UK event in London, he introduced the “Britannia Card,” a £250,000 tax-forgiveness scheme aimed at the global wealthy. Under the proposal, non-doms,  or even former UK residents returning from abroad, would pay a one-off fee to enjoy ten years of zero tax on foreign income, capital gains, and inheritance. The catch? That money would fund annual bonuses of £600 to £1,000 for millions of Britain’s lowest-paid workers. Farage is pitching it as a direct wealth transfer from the super-rich to working people, a modern-day twist on Robin Hood economics.

According to Farage, the scheme could raise to £2.5 billion a year if just 6,000 wealthy individuals signed up, cash that would then be channelled straight to 2.5 million workers earning under £27,000. It’s bold, populist, and crafted to resonate with voters who feel the system rewards the rich and ignores the rest. By tying foreign wealth to local paychecks, Farage claims he’s doing what no other party dares: using tax incentives not to benefit the elite, but to support those left behind.

But critics aren’t buying it. Labour has slammed the plan as a “billionaires’ bonanza,” warning it could leave a £35 billion black hole in government revenue if existing taxes are replaced by this voluntary fee system. They say the rich shouldn’t be able to buy their way out of paying fair tax, and that public services will suffer if this becomes policy. The Conservatives, meanwhile, dismissed the proposal as “fantasy economics,” questioning whether Farage’s numbers even add up.

Tax experts also raised red flags, warning that there’s no guarantee wealthy individuals would sign up in the numbers Reform UK predicts. And even if they did, some argue the policy sends a troubling message, that the rich get special treatment, while working people are expected to accept crumbs.

Still, Reform UK is banking on the political appeal of giving something real and tangible to millions of voters who rarely see direct benefits from big economic ideas. Whether it’s workable or not, Farage’s Britannia Card has done something powerful: it’s turned tax policy into a populist weapon. And in a campaign season where voters are craving boldness, that alone could be enough to shake up the race.