NIGEL Farage will tomorrow pledge a Robin Hood tax to take £250,000 from rich foreigners and hand it to the poor.
The Reform UK boss plans to slap a one-off fee on the newcomers and returning Brits who want to settle in the UK.
The “entry contribution” would target non-doms — high net-worth individuals who live in Britain but pay no tax on overseas income.
Unlike most levies, every penny would go to the lowest-paid full-time workers, HMRC handing it out as a tax-free bonus.
In a speech, Mr Farage — who has made it clear he wants Reform to represent those who “set their alarm clocks in the morning” — will vow to restore the social contract between rich and poor.
He will argue that his plan will boost the country’s hardest grafters.
A party source told The Sun: “Since the 2008 crash, the Bank of England pumped billions into the economy — but the working class didn’t see a penny.
“This is about repairing the social contract.
“For once, the working class should be getting the bonus.”
Reform believes it is now gaining ground with working-class voters.
Reform UK boss Nigel Farage is set to pledge a Robin Hood tax to take £250,000 from rich foreigners and hand it to the poor
But Labour tonight slammed the policy as a “a golden ticket for foreign billionaires to avoid the tax they owe in this country”.
A spokesperson added: “As ever with Reform, the devil is in the detail. 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.”
And the Tories echoed the criticism, branding the announcement “fantasy economics”.
Shadow Chancellor Mel Stride said: “The British public need a real plan for putting more money in their pockets.
“Reform’s promises are ruinously irresponsible.”
Under Reform’s plans, non-doms would be handed a new “Britannia Card” in exchange for the £250,000 fee, granting them exemptions from tax on overseas income, capital gains and inheritance.
The levy would be renewable every ten years.
Reform claims the scheme could raise £1.5 billion a year if just 6,000 non-doms sign up – enough to give £600 to 2.5 million low-paid workers annually.
The cash would be transferred tax-free by HMRC directly to the bank accounts of the lowest-earning 10 per cent of full-time workers, within 90 days of the end of each tax year.
Card holders would still pay tax on income and gains earned inside the UK.
But Mr Farage’s party said the move is aimed at reversing the exodus of wealthy individuals under Labour’s tax crackdown.
Chancellor Rachel Reeves is said to be looking at ways to water down plans to scrap the non-dom regime amid concerns it could drive more wealth and investment out of the country.
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