Nigel Farage backs Kwarteng’s tax cut in strong rebuke of ‘globalists’
Nigel Farage backs Kwarteng’s tax cut in mini-budget
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The former Brexit Party leader praised Chancellor Kwasi Kwarteng for cutting taxes and moving ahead with the policy despite warnings from world economic organisations. Since Friday’s mini-budget, representatives from Bank of America, the IMF and JP Morgan among others have sounded alarm bells, saying the economic plan is sparking market chaos. The pound sterling fell to an all-time low this week, with investors worried the plan will hurt Britain’s finances.
Nigel Farage brushed all the caution aside and congratulated the Chancellor for standing up against international organisations, which he says, favour more taxes and control over financial markets.
He said: “Yes, the Chancellor of the Exchequer did something that is considered to be unforgivable now by governments all over the world – and the IMF, and the OECD and all those big organisations.
“Yes, he cut taxes.
“That’s not allowed anymore. The globalists want taxes to keep going up. The globalists want governments to have more and more control over our lives.”
Mr Farage said: “Kwarteng was right to cut taxes. Of course, he was right. Right to set up investments zones.
“And yes, taking a risk – increasing borrowing to do it.
“But here is the truth: the energy bail-out that he proposed is three times bigger in terms of financial risk and borrowing than the tax cuts.
“And yet, no one talks about that.”
Nigel Farage went on to slam the COP26’s net zero target as an stumbling block in the UK’s pursuit to become 100 percent energy independent.
He said: “Why? Because of course, the world – the Western world particularly – is signed up to the net zero agenda agreed at COP26.
“Our problems – our real dilemma – is we don’t produce our own energy despite having massive reserves of oil, gas and coal.
“Wind energy – Starmer to Starmer – may sound wonderful but wind enegry on its own doesn’t solve the problem because very often, the wind doesn’t blow. This mess is because of energy.
“And look at what’s happened to those pipelines that have been blown in the last 48 hours, Europe and the UK could be in for the grimmest economic winter we’ve ever seen.”
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“Perhaps even worse than it was during wartime. So, don’t buy the narrative, don’t buy what mainstream media, don’t buy what global institutions are telling you that it is awful to cut taxes.
“Now, it’s good to cut taxes. The real reason is we must be energy independent and quickly.”
Prime Minister Liz Truss broke silence on the mini-budget on Thursday, claiming her Cabinet had to take action amid the backdrop of the global crisis.
She will face Tory MPs – many of whom have raised concerns over her economic agenda – at the Conservative Party conference starting on Sunday.
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