Reform UK has introduced the Britannia Card scheme, a divisive new policy targeting wealthy immigrants. Under the plan, high-net-worth individuals must pay £250,000 for tax benefits. Meanwhile, the funds will support low-income workers, sparking heated debate.
Foreign nationals and returning British expats can buy a 10-year residency permit for £250,000. In exchange, they avoid UK inheritance tax. Additionally, they won’t pay taxes on overseas income, reviving a scrapped “non-dom” rule.
All proceeds will go to the bottom 10% of UK earners. Reform estimates 2.5 million full-time workers could receive £600 to £1,000 yearly. These payments will be tax-free and distributed directly via HMRC.
Nigel Farage argues the Britannia Card scheme ensures the wealthy “immediately contribute” to society. He highlights struggling regions like Wales and northern England as key beneficiaries. Low wages there make the policy especially relevant.
However, critics call the plan unfair. They say it creates a two-tier tax system. Regular Brits pay full taxes, while rich newcomers buy exemptions. This disparity could spark public outrage.
Reform hasn’t clarified crucial details yet. For example, who qualifies as “high-net-worth”? Also, how will HMRC enforce the £250k fee? Legal experts question if the policy even follows current tax laws.
Labour slammed the idea as a “golden ticket for billionaires.” They warn working families may face higher taxes to cover lost revenue. Despite backlash, Reform’s popularity keeps growing.
Recent polls show Reform leading at 34%, ahead of Labour and the Conservatives. The Britannia Card scheme fits their working-class appeal. Yet, letting elites “buy” tax breaks may backfire.
Without a drafted bill, the policy remains theoretical. Still, Reform’s mix of populism and tax incentives could reshape UK politics. Whether for better or worse, the debate is far from over.
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