Key facts
- A think tank linked to Reform UK, the Centre for a Better Britain (CFABB), is set to publish a policy document.
- The document reportedly proposes substantial tax cuts, including the potential abolition of inheritance tax and phasing out of capital gains tax.
- CFABB is also expected to propose deregulation for the UK's financial services sector, termed 'big bang 2.0'.
- A CFABB spokesperson stated that an early draft was leaked and contained inaccuracies, assuring no unfunded tax cuts would be proposed.
- The think tank's proposals come amid scrutiny of large donations to Reform UK from crypto billionaires Ben Delo and Christopher Harborne.
The Centre for a Better Britain (CFABB), a think tank with ties to Nigel Farage's Reform UK party, is reportedly preparing to release a policy document advocating for significant tax cuts and deregulation. According to Bloomberg, citing unnamed sources, the proposals include abolishing inheritance tax and phasing out capital gains tax, measures that would significantly impact government revenue. The UK's inheritance tax raised £8.5 billion last year, and capital gains tax brought in a record £24 billion in 2024-25.
CFABB is also expected to call for a reduction in regulations for the UK's financial services sector, a move described as 'big bang 2.0', referencing Margaret Thatcher's deregulation drive in the 1980s. Additionally, the think tank may propose breaking up the Treasury and reassigning its economic growth responsibilities.
A spokesperson for CFABB stated that Bloomberg had been briefed on an 'early draft' and that the published report would not reflect these inaccuracies. They insisted that the final document would propose 'no unfunded tax cuts' and would not suggest a return to pre-2008 regulatory standards. The spokesperson declined to specify which points in the Bloomberg report were incorrect.
The prospective policy proposals emerge as Reform UK faces scrutiny over substantial donations totaling £72 million from crypto billionaires Ben Delo and Christopher Harborne. Both individuals have denied seeking to influence the party's policies. CFABB, founded by former Reform chief operations officer Jonathan Brown, shares office space with Reform UK and previously operated under the name Resolute 1850.