Nigel Farage says Reform’s ‘real ambition’ is the next general election
Nigel Farage has acknowledged Reform UK will not form a government after 4 July – but said the general election campaign is the “first big push” towards the next contest.
Launching his party’s offer to the electorate – which he is calling a “contract” rather than a manifesto – Mr Farage said his campaign has “momentum” around the country, including the support of a “rapidly increasing” number of 18 to 24-year-olds.
Election latest: Farage challenged over spending plans
Speaking in Merthyr Tydfil in South Wales, he said there had been a “breakdown of trust” in politics and hoped Reform would “establish a bridgehead in parliament” to “become a real opposition” to a Labour government.
Nigel Farage launches Reform UK’s policy document in Wales. Pic: PA
“We are not pretending that we are going to win this general election, we are a very, very new political party,” he said.
“This is step one. Our real ambition is the 2029 general election. But this is our first big push.”
Mr Farage earlier confirmed his ambitions to become prime minister at the next general election, which could be in 2029.
Reform’s policy document runs to 25 pages – compared with 133 published by Labour – with the first two of the party’s five core pledges on immigration, including promising to freeze “all non-essential immigration”.
The party claims it will “stop the boats” in their first 100 days in power, with a plan that would involve leaving the European Convention on Human Rights (ECHR), with zero illegal immigrants being resettled in the UK, a new government department for immigration, and migrants crossing the channel in small boats being returned to France.
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‘We’re unashamedly radical’
The other three core pledges ask voters to “imagine no NHS waiting lists”, to “imagine good wages for a hard day’s work” and also “imagine affordable, stable energy bills”.
Reform are also promising a raft of tax cuts, including raising the minimum threshold of income tax to £20,000 a year, abolishing stamp duty, and abolishing inheritance tax for all estates under £2m.
The party plans to fund its policies with measures including abandoning net zero targets, the introduction of an immigration tax, and through £50bn savings on “wasteful government spending”.
On health, Reform wants to create an “NHS voucher scheme” for private treatment if people can’t get seen by a GP within three days and to hold a public inquiry into excess deaths and “vaccine harms” from the COVID vaccine.
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Further offers include ditching all net-zero policies, ending “woke” policing, and legislating for “comprehensive free speech” that promises “no more de-banking, cancel culture, left wing hate mobs or political bias in public institutions”, as well as stopping “sharia law being used in the UK”.
Sky News’ deputy political editor Sam Coates questioned Mr Farage over the proposed additional £141bn of spending every year, asking: “The scale of this is deeply unserious, isn’t it?”
Mr Farage said the plan is “radical, it’s fresh thinking – it’s outside the box”.
In a lengthy exchange, the Reform leader said he has no intention of joining the Conservatives but stopped short of categorically ruling out his future membership of the party.
Nigel Farage
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His party last week overtook the Conservatives for the first time in a single YouGov poll for The Times, but the Tories are currently an average of seven points ahead.
Rishi Sunak has repeatedly said a vote for Mr Farage’s party amounted to handing a “blank cheque” to Labour, whom the polls predict will form the next government.
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Reform has faced questions over the vetting of its candidates, with Grant StClair-Armstrong, who was standing in Saffron Walden, the Essex constituency where Business Secretary Kemi Badenoch was the most recent MP, offering his resignation on Sunday.
It followed reports in The Times that he had previously called on people to vote for the British National Party (BNP).
Last week another Reform candidate apologised for an old internet post which said Britain should have “taken Hitler up on his offer of neutrality” instead of fighting the Nazis in the Second World War.
Ian Gribbin, who is standing in the East Sussex seat of Bexhill and Battle, told Sky News that he apologised and withdrew the comments “unreservedly”.
A group of US Senate Democrats known for supporting the crypto industry have said they would oppose a Republican-led stablecoin bill if it moves forward in its current form.
The move threatens to stall legislation that could establish the first US regulatory framework for stablecoins, according to a May 3 report from Politico.
Per the report, nine Senate Democrats said in a joint statement that the bill “still has numerous issues that must be addressed.” They warned they would not support a procedural vote to advance the legislation unless changes are made.
Among the signatories were Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester and Andy Kim — all of whom had previously backed the bill when it passed through the Senate Banking Committee in March.
The bill, introduced by Senator Bill Hagerty, is formally known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
Related: Fed’s Powell reasserts support for stablecoin legislation
Senate prepares to vote on stablecoin bill
The Senate is expected to begin floor consideration of the bill in the coming days, with the first vote potentially taking place next week.
The bill has been championed by the crypto industry as a landmark step toward regulatory clarity. However, the Democrats’ about-face reflects growing unease within the party.
Although revisions were made to the bill after its committee approval to address Democratic concerns, the lawmakers said the changes fell short. They called for stronger safeguards related to Anti-Money Laundering, national security, foreign issuers, and accountability measures for noncompliant actors.
The statement was also signed by Senators Raphael Warnock, Catherine Cortez Masto, Ben Ray Luján, John Hickenlooper and Adam Schiff.
Senator Kirsten Gillibrand and Senator Angela Alsobrooks were absent from the list, who co-sponsored the bill alongside Hagerty.
Despite their objections, the Democratic senators emphasized their commitment to shaping responsible crypto regulation. They reportedly said they “are eager to continue working with our colleagues to address these issues.”
Related: US banks are ‘free to begin supporting Bitcoin’
Crypto needs a stablecoin bill
On April 27, Caitlin Long, founder and CEO of Custodia Bank, criticized the US Federal Reserve for quietly maintaining a key anti-crypto policy that favors big-bank-issued stablecoins, despite relaxing crypto partnership rules for banks.
Long explained that while the Fed recently rescinded four prior crypto guidelines, a Jan. 27, 2023, statement was left intact in coordination with the Biden administration.
The guidance, according to Long, blocks banks from engaging directly with crypto assets and prohibits them from issuing stablecoins on permissionless blockchains.
However, Long noted that once a federal stablecoin bill becomes law, it could override the Fed’s stance. “Congress should hurry up,” she urged.
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Bitcoiners and United States government officials have criticized Arizona Governor Katie Hobbs’s decision to veto a bill that would have allowed the state to hold Bitcoin as part of its official reserves.
“This will age poorly,” Casa co-founder and cypherpunk Jameson Lopp said in a May 3 X post. Bitcoin (BTC) entrepreneur Anthony Pompliano said, “Imagine the ignorance of a politician to believe they can make investment decisions.”
Call for government officials who understand Bitcoin is “the future”
“If she can’t outperform Bitcoin, she must buy it,” Pompliano said. Crypto lawyer Andrew Gordon said, “We need more elected officials who understand that Bitcoin and crypto are the future.”
Wendy Rogers, who co-sponsored the bill with State Representative Jeff Weninger, also voiced her disappointment.
“Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin,” Rogers said.
On May 2, Hobbs vetoed the Arizona Strategic Bitcoin Reserve Act, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials. “Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs said.
Rogers said she would refile the bill during her next session. Rogers also pointed out that Arizona’s state retirement system already holds stocks of Michael Saylor’s Strategy (MSTR).
“Which is basically a leveraged Bitcoin ETF. Arizona’s Strategic Bitcoin Reserve bill will be back. HODL,” Rogers said. The stock price of Strategy rose 32% in April, the most significant monthly gain since November 2024.
Related: US gov’t actions give clue about upcoming crypto regulation
However, well-known crypto skeptic Peter Schiff sided with Hobbs. “The government should not be making decisions to use public funds to speculate in cryptocurrencies,” Schiff said.
Arizona would have become the first US state to establish a Bitcoin Strategic Reserve if it had passed.
Arizona joins several other US states where similar efforts have failed. Similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn recently.
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