New ‘Britannia card’ would let wealthy foreigners dodge inheritance tax forever – while Britain’s poorest get £600 cash handout in ‘Robin Hood’ scheme
Riding high on a wave of unprecedented popularity, Nigel Farage has unveiled his most audacious policy yet – a £250,000 ‘golden ticket’ that would let the super-rich live tax-free in Britain while handing cash to the country’s poorest workers.
The Reform UK leader, whose party now leads Labour in some polls and is seen by many as the real opposition, announced the controversial ‘Britannia card’ scheme this morning at a London press conference.
Under the radical proposal, wealthy foreigners and returning British expats would pay a one-off quarter-million-pound fee in exchange for lifetime exemption from UK tax on overseas earnings – and a 20-year shield from inheritance tax.
But in a twist that has left critics bewildered, Farage insists this is a “Robin Hood” policy, with every penny of the £250,000 fees going directly into the bank accounts of Britain’s lowest earners.
Cash in Your Account
The mathematics are simple, if controversial. Farage calculates that 6,000 wealthy individuals taking up the offer would raise £1.5 billion annually – enough to give 2.5 million workers earning under £23,000 a tax-free payment of £600 each.
In a best-case scenario with 10,000 takers, that payment could rise to £1,000 per person.
“Britain must be a place where success is celebrated, not punished with excessive taxes, crippling energy costs, or punitive inheritance levies,” Farage declared, brushing aside accusations that he’s creating a “billionaire’s bonanza.
The timing couldn’t be more strategic. With Reform UK hitting 34% in recent polls – their highest ever rating – and Farage increasingly seen as more likely to become Prime Minister than Conservative leader Kemi Badenoch, the party is flexing its political muscles.
‘Not Clever Enough’
When challenged at today’s press conference about warnings the policy could cost Britain £34 billion, Farage’s response was characteristically blunt.
“Oh dear, oh dear, oh dear. I’m not clever enough to answer any of that,” he said, dismissing expert analysis as “completely off-the-wall nonsense.”
The criticism comes from Dan Neidle, founder of Tax Policy Associates, who warned that Reform’s proposal would provide “a much more generous regime for the very wealthy than was in place before March 2024.
Under the old non-dom system, wealthy individuals paid £60,000 annually to shield overseas income from UK tax. Farage’s one-off £250,000 fee, renewable every decade, works out far cheaper for long-term residents.
The Italian Job
Reform points to Italy’s similar scheme, which charges €200,000 annually, as proof the concept works. It’s working for the Italians,” party sources note, suggesting Britain risks being left behind in the global competition for wealthy residents.
The Britannia card would offer holders:
- Complete exemption from UK tax on all overseas income and gains
- No inheritance tax liability for 20 years
- A 10-year renewable residence permit
- The promise of a “stable” tax regime
Reform chairman Zia Yusuf, defending the policy, said: “The reality is that even the term non-dom has become, you know, these people have been made to feel persona non grata… there’s a narrative that has been created that these people contribute nothing.”
Labour’s Fury
The opposition has been swift and savage. Labour branded it a “golden ticket for foreign billionaires” that would create a £34 billion black hole in public finances.
“Nigel Farage can brand this whatever he wants – the reality is his first proper policy is a golden ticket for foreign billionaires to avoid the tax they owe in this country,” a Labour spokesperson said.
This giveaway would reduce revenues raised from the rich that would have to be made up elsewhere – through tax hikes on working families or through Farage’s promise to charge them to use the NHS.
Labour chair Ellie Reeves was even blunter: “Nigel Farage’s new policy is quite simply a bonanza for billionaires.
From Pariah to Power
The extraordinary thing about today’s announcement isn’t just the policy itself – it’s that Farage can propose it with a straight face while his party tops opinion polls.
Just months ago, Reform UK was dismissed as a fringe protest party. Now, with 34% support in the latest Ipsos poll, they’re nine points ahead of Labour and viewed by many as the most credible opposition to Keir Starmer’s struggling government.
The transformation has been remarkable. Reform now holds:
- 5 MPs in Parliament (after winning the Runcorn and Helsby by-election by just six votes)
- Control of several county councils including Kent and Durham
- Two mayoralties in Greater Lincolnshire and Hull
- Growing support from defecting Conservative councillors
The Numbers Game
Farage insists “tens of thousands” would flock to Britain under his scheme. But experts warn the sums don’t add up.
The Office for Budget Responsibility estimates that abolishing non-dom status – as Labour did in April – will raise £33.9 billion between 2026 and 2030. That’s money that would vanish under Reform’s plan, according to tax experts.
“The £33.9bn reflects tax raised from a small number of very wealthy people who would opt to buy a Britannia card and so pay no tax,” Neidle explained. It’s therefore revenue immediately lost by Reform UK’s proposal.
A Reform source dismissed this analysis as “simply not credible,” but offered no alternative figures.
Political Masterstroke or Madness?
What’s fascinating is how Farage is attempting to square the circle of populist politics. Here’s a policy that explicitly benefits millionaires and billionaires, yet he’s selling it as help for the working class.
“Nice try, but the idea that I’m somehow putting forward a profoundly left-wing concept today could not be further from the truth,” he told reporters who suggested he was trying to buy working-class votes.
We’re saying we want people who make loads of money to come to Britain in huge numbers and pay lots and lots of tax and buy lots of houses and spend lots of money.
The Bigger Picture
The Britannia card announcement comes as Reform UK continues its remarkable rise. Recent polls show:
- 53% of Conservative voters now view Reform favourably
- Farage has the highest satisfaction rating of any party leader (though still negative overall)
- The party is retaining 95% of its 2024 voters while Labour keeps just 54%
- One in three Conservative voters has switched to Reform since the last election
With predictions that Reform could win over 400 seats if an election were held tomorrow – giving them a majority of almost 200 – Farage clearly feels emboldened to propose radical policies.
Trust on Immigration
Crucially, Reform UK is now the most trusted party on immigration – the issue that arguably matters most to their base. An Ipsos poll found 37% trust Reform on immigration policy, compared to around 25% for Labour and the Conservatives.
This gives Farage political capital to spend on other issues, even controversial ones like tax breaks for the ultra-wealthy.
The Wealth Exodus
Farage’s timing is deliberate. With reports of wealthy individuals fleeing Britain due to Labour’s tax hikes, he’s positioning Reform as the party that would welcome them back.
“People are fleeing this country in droves. Our economy is in trouble. There are fears of wealth taxes coming in. All the mood music is bad,” he said today.
The policy launch comes as Rachel Reeves reportedly considers U-turns on inheritance tax, with four in ten entrepreneurs considering leaving the country.
What Happens Next?
With no election due until 2029, Farage has time to refine his pitch. But today’s announcement serves multiple purposes:
- It positions Reform as pro-business and pro-wealth creation
- It offers something tangible to low-income voters
- It generates headlines and keeps Reform in the news
- It forces other parties to respond
Labour will denounce it as a giveaway to the rich. The Conservatives, haemorrhaging support to Reform, face an impossible choice: match the policy and look desperate, or oppose it and risk losing more voters to Farage.
The Bottom Line
Love him or loathe him, Farage has once again proved his genius for political theatre. While experts tear apart the economics, he’s created a simple narrative: pay £250,000, save Britain, help the poor.
It’s audacious, it’s controversial, and it probably doesn’t add up. But with Reform riding high in the polls and Farage increasingly seen as a future Prime Minister, who’s to say it won’t work?
As one seasoned political observer noted: “It’s vintage Farage – a policy that shouldn’t make sense but somehow does, at least politically.”
Whether the Britannia card becomes reality or remains a campaigning gimmick, one thing’s certain: Nigel Farage is no longer on the fringes of British politics. He’s reshaping it, one controversial policy at a time.
Nigel Farage speaking at CPAC 2017
Photo by Gage Skidmore, taken on 24 February 2017, used under the Creative Commons Attribution–ShareAlike 2.0 Generic license
