Reform UK has pledged to cut more than £100bn from public spending within its first 100 days in government, in a package set out on Wednesday by the party's Treasury spokesman, Robert Jenrick, on the eve of Reform's annual conference at Birmingham's NEC.
The commitment is the party's largest stated fiscal undertaking since it disowned its 2024 general election platform, and it marks the point at which Reform has claimed a figure its opponents have used against it for the better part of a year. It came on the same day that the Electoral Commission published donation figures showing Reform continuing to raise more than any other party.
Jenrick said Reform would reduce welfare spending by £50bn, make a further £20bn to £30bn of cuts across other government departments, and lower debt interest costs by £28bn. He promised an emergency Budget shortly after any election victory, telling reporters: "We won't make the same mistake as Rachel Reeves" — a reference to the former chancellor's delay in holding her first Budget.
In remarks reported by London Loves Business, Jenrick attacked the record of Andy Burnham, who became prime minister in July. "It turns out that putting on a T-shirt and being a jovial northerner isn't enough to convince the markets you have got a strategy for the British economy, and they are taking fright," he said.
Reform's three components sum to £98bn at the bottom of the party's own stated range and £108bn at the top, meaning the "more than £100bn" headline holds only at the upper end. The figures were set out in a briefing to reporters and in an interview with the Telegraph and an article for City AM, without an accompanying costing document. London Loves Business noted that delivery would depend on the detail of the welfare reforms, departmental reductions and fiscal rules, and on whether lower borrowing costs could in practice deliver the projected fall in debt interest.
The £100bn characterisation originated with Labour. In her Autumn Budget speech on 26 November 2025, Reeves told the Commons: "And then there is Reform, who promise more than £100 bn of cuts with no detail on where those cuts will come from – a recipe for devastating damage to public services."
The welfare component was first set out on 16 August, when Reform said it would replace disability payments with a new allowance, shift some support to councils and employers, mandate employer-funded sick pay for two years and invest £1.85bn a year in cognitive behavioural therapy. A Labour spokeswoman said at the time: "Reform's £50 billion claim is fantasy economics, built on stripping support from disabled people and shifting costs onto employers." The Conservatives called it a "half-baked policy".
Separately, the Electoral Commission reported that UK-registered parties accepted £17,085,354 in donations and public funds between April and June. Bloomberg, reporting the data, said Reform received £5.3m, its lowest quarterly total in 12 months following the absence of multi-million-pound donations from the Thailand-based investor Christopher Harborne.
Reuters reported that £4m of that came from Ben Delo, accounting for 75% of the party's donations. Delo, a cryptocurrency entrepreneur, was convicted in the United States in 2022 over inadequate anti-money laundering controls at his business and later pardoned by Donald Trump. The Guardian reported that Reform says it is confident the formerly Hong Kong-based businessman will not be caught by the £100,000 annual cap on donations from Britons living abroad, introduced by Labour after a review into electoral interference.
Nigel Farage, the Reform leader, has told the Times: "At the next election, we will present a rigorous and fully-costed manifesto." The party's conference opens on Thursday under the slogan "100 days of Reform".
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