Reform UK is promising to raise the tax-free personal allowance to £15,000 if it wins the next general election.
Robert Jenrick, the party’s economic spokesman, is expected to announce the proposal at Reform UK’s conference in Birmingham. He is expected to say the change would be introduced within the first 100 days of becoming chancellor.
The proposed increase would lift the allowance by £2,430. Reform estimates that most taxpayers would save £500 a year, while 2.9 million people would stop paying income tax altogether.
The party says the policy would cost £17.7bn in its first year, rising to £21bn by the fifth year. It says the measure could be funded through £80bn in planned public spending cuts.
Those plans include a proposed £50bn reduction in welfare spending. Reform has said it would not cut the state pension, but would seek savings from disability benefits and by removing some benefits from foreign nationals.
The party also says it could save £10bn by scrapping net-zero programmes, £8bn by reducing the number of civil servants and £7.1bn by capping the foreign aid budget.
Reform’s 2024 manifesto proposed raising the personal allowance to £20,000. Jenrick is expected to tell conference activists that this remains the party’s long-term goal.
