Reform vows £80billion of savings by 2030 in its 'alternative' budget

Published: 18:46 EDT, 26 October 2026 | Updated: 18:59 EDT, 26 October 2026 Reform vowed to make £80billion worth of savings by 2030 as the party laid out its 'alternative' budget on Monday.Robert Jenrick presented 64 measures the party will implement in its 'rival red book' to create jobs and promote growth ahead of Labour announcing its own Budget on Wednesday.Speaking at a Westminster press conference, the Reform economics spokesperson said the party would make '£40billion of cuts in year one and £80billion by year five' of a future government.Among a broad range of measures, Reform vowed to re-legalise the use of imperial measures, approve the Rosebank oil field for drilling and review regulation on AI.The party will also end taxpayer funding for the bottom 20 per cent of degrees based on their contribution to the economy and fast-track the building of reservoirs.It will introduce legislation to automatically designate French and South Korean nuclear designs 'as safe' and automatically grant pavement dining licences.Reform will also make the 5p fuel duty cut permanent, cut energy bills by £250, repeal Labour's Employment Rights Act and increase the VAT threshold to £150,000 in previously announced plans.It comes as Britain's debt surpassed £3trillion for the first time ever according to official figures published last week. Robert Jenrick presented 64 measures the party will implement in its 'rival red book' to create jobs and promote growth ahead of Labour announcing its own Budget on Wednesday Reform leader Nigel Farage said Reform's proposals will 'create a vibrant, growing private sector that delivers well-paid jobs for British citizens'Mr Jenrick said: 'I'll be honest. I had hoped that some of these cuts would come later in the parliament, but last week's numbers told us we don't have five years, so we have to bring them forward.'The alternative is that Britain goes bust. And where from? Not from the NHS, not from the Armed Forces, not from the police. 'Unlike the Tories, we care about public services. Under Reform, every one of us gets more.'Instead, we'll take it from the things that do nothing, nothing for the people who actually pay for them.'Reform leader Nigel Farage said Reform's proposals will 'create a vibrant, growing private sector that delivers well-paid jobs for British citizens.'But both the Conservatives and Labour mocked Reform for delivering its 'economic rescue plan' to a 'half-empty room'.A Conservative Party spokesman said: 'It must be cringingly embarrassing for Farage and Jenrick to be forced to address a half-empty room. At her pre-Budget press conference, Kemi Badenoch addressed a room of over 300 passionate activists.'Reform have already stolen numerous policies that the Conservatives have previously announced for their 'rescue plan'. Now it looks as if they need to steal some of our activists to fill a room.'And a Labour Party spokesperson said: 'No wonder Reform's press conference was full of empty seats - nobody is going to listen to them until they start to deal with the sleaze and scandal engulfing their party.'A Reform spokesman said: 'Our Economic Rescue Plan has been widely endorsed by economists who recognise only Reform can turn the economy around. 'Nobody believes a word the old parties say anymore after they hiked taxes and borrowing to record levels.'