UK By-Election and Fiscal Policy (with Guy, Anna)

Richard Tice, deputy leader of Reform UK, argues the Makerfield by-election is neck-and-neck between Labour's Andy Burnham and Reform. He warns of a Labour leadership challenge if Burnham wins. On fiscal policy, he says borrowing is out of control and the UK needs to cut wasteful spending and regulation to trigger growth, then deliver performance-related tax cuts.

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UK By-Election and Fiscal Policy (with Guy, Anna)

yields

Political uncertainty from a leadership challenge and potential fiscal easing could spook the gilt market, leading to volatility in yields.

It looks as if Andy Burnham is going to win. The vote on the right is fragmented between you and Restore. How do you deal with that?

Guy
Richard Tice

This is the most important by-election this century. It's neck and neck between Burnham and Reform. Restore will get less than 4%. If Burnham wins, cabinet ministers will threaten to resign and there will be a leadership contest.

The two ministers who just resigned will put forward a leadership challenge. All will change in the Labour leadership over the coming months.
Could the fragmented right deny your candidate the win? Does this question Reform's ability to win safe seats?

Anna
Richard Tice

It's the opposite. This was a safe Labour seat. The fact that Reform is neck and neck shows the toxicity of the Labour Party. We've led in national polls by 9-10% on average.

Voters vote tactically. If Restore makes the difference, it will reinforce how damaging it is for them to continue.
Where is Nigel Farage? Is he ducking the limelight due to the donation inquiry?

Guy
Richard Tice

He's campaigning there today and tomorrow. He's leading from the front. We are a growing team, leading in all national polls.
You've said fiscal rules can be fudged. What kind of fiscal rules would you adopt?

Anna
Richard Tice

The most critical thing is to get borrowing down. You can't have an economy flatlining, borrowing £140 billion a year with no growth. We have to cut wasteful spending and regulation to trigger growth, then deliver performance-related tax cuts.

It's like remortgaging the house ever upwards. At some point the value flatlines and you get negative equity.

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