Prime Minister Keir Starmer issued a sharp warning on Thursday, accusing Nigel Farage of promoting “fantasy” economic policies that would severely damage the UK if his Reform UK party ever

gained power.

Speaking during a business visit, Starmer compared Farage’s proposals to those of former Prime Minister Liz Truss, whose short-lived tenure in 2022 ended in financial chaos after her unfunded tax cuts spooked financial markets. “We were elected to fix that mess,” Starmer said. “Now in government, we’re once again fighting the same fantasy — this time from Farage.”

Farage has blended a populist mix of hardline anti-immigration and tax-cutting policies with calls for increased support for working families — a combination Starmer called economically reckless. He warned that Farage's promises amounted to a "casino gamble" that could cost tens of billions of pounds without a clear plan to fund them.

Recent analysis by the Institute for Fiscal Studies (IFS) backs up Starmer’s concerns. The IFS estimates that one of Reform’s key proposals — raising the income tax personal allowance — could cost the government between £50 billion and £80 billion ($67–108 billion).

Labour, which swept to power in July last year, has since faced a dip in popularity due to tough fiscal decisions, including tax hikes and spending cuts. This month’s local elections saw the party lose ground to Reform, which now tops some national polls.

Despite Reform’s rising popularity, Starmer cautioned voters against being lured by what he sees as unsustainable promises. “It’s the same failed ideas — just wrapped in a new package,” he said. Photo by Euro Realist Newsletter, Wikimedia commons.