"We are not over-promising,” Farage said.(Photo by Carl Court/Getty Images)

Nigel Farage has abandoned several major tax cut pledges as the Reform leader predicted an “economic collapse” would trigger a general election as soon as 2027.

Farage distanced himself from the party’s previous promise to introduce tax cuts worth £90bn, including by raising the tax-free personal allowance to £20,000, blaming the u-turn on ballooning government debt.

“We are being mature, we are being sensible, and we are not over-promising,” Farage said.

“For us not to take account of the dire state of our public finances, that I think would be irresponsible.

“We can’t have massive tax cuts until the markets can see we’ve at least got these things in hand.”

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