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Nigel Farage will ditch Reform's election vows of huge tax cuts today as he insists spending must be brought under control first. In a crucial speech in the City of London, Mr Farage is bidding to burnish his credentials as a serious option to run the country. He will underline that getting the deficit down and slashing red tape for business would be the overriding priority for a Reform government, saying only then can the burden on struggling Brits be reduced. The intervention comes with polls showing Mr Farage on track to win the keys to Downing Street - but still more than three years to go until the next general election. The insurgents have been facing increasing questions about what their approach would be if they do end up in power. Insiders acknowledge that the party will have to demonstrate they can be trusted with detailed policies as the election draws closer. The speech has been billed as Mr Farage's first big move on economic policy, after he secured a groundswell of support by campaigning on issues such as immigration and 'wokery'. Reform's manifesto last year promised £90billion of tax cuts - around a third of the NHS budget. They including raising the personal allowance to £20,000, introducing a £100,000 tax-free allowance for companies and exempting some high street firms from business rates. At the time, the Institute for Fiscal Studies think-tank said the plans, along with £50 billion of spending commitments and £150 billion of cuts, were 'problematic'. In his speech today, Mr Farage will accuse Labour and the Tories of 'wrecking the public finances'. He will say Reform would be 'the most pro-business' government in British history, with sweeping deregulation to make the most of Brexit freedoms. Mr Farage is expected to say: 'The harsh truth is that regulations and regulators, in many areas, are worse than they were back in 2016.' Promising to 'free businesses to get on and make more money', he will say: 'Reform UK will do things very differently. 'We will be the most pro-business, pro-entrepreneurship government this country has seen in modern times. 'This will mean more well-paid jobs for workers.' Labour said Mr Farage's new proposals would 'take us back to austerity'. A party spokesperson said: 'We've seen from the councils Reform run that they've failed to deliver the savings they already promised and are cutting services and raising taxes as a result. 'They've said themselves that those councils are a shop window for what a Reform government would do nationally – we know that this is more empty promises and no real plan.' Conservative shadow chancellor Sir Mel Stride said Reform could not be taken seriously on the economy 'when their promises disintegrate after five minutes, and they remain committed to extra welfare spending and a huge expansion of the state'. He said: 'They are a one-man band and have resorted to junking promises they made only recently in a desperate attempt to appear economically credible. 'In local government they have failed to find savings and are instead planning tax hikes on hard-working families.
