The Guardian
· collected 2026-09-23 · by Kalyeena Makortoff Banking correspondent
A thinktank linked to Reform UK, the Centre for a Better Britain (CFABB), has released a 183-page report titled "Boosting Britain" that calls for abolishing the state pension and implementing £75 billion in tax cuts. The proposals include eliminating taxes on capital gains, inheritance, property transactions, digital services, and air passengers, alongside reducing corporation tax from 25% to 15%. These changes would necessitate significant public spending cuts, including ending contributions to the public pension plan for new teachers and civil servants.
Written locally by qwen2.5:14b on 2026-09-23,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
A thinktank linked to Reform UK, called The Centre for a Better Britain’s (CFABB), has published a "radical" 183-page report advocating for significant changes to the British financial system and tax code. On Wednesday, CFABB proposed abolishing the state pension and implementing £75 billion in tax cuts, primarily benefiting wealthy Britons by eliminating capital gains tax, inheritance tax, stamp duty on property and shares, and reducing corporation tax from 25% to 15% over eight years. The report claims these measures will raise productivity and living standards but acknowledges that public spending would need to be slashed to accommodate the tax changes, though it does not detail specific cuts. Among its proposals is a "lifetime investment account" offering £1,000 to newborns, with contributions up to 15% of earnings later in life, instead of the state pension which would become a means-tested safety net for the poorest.
Written for “State Pension Abolition Call” on 2026-10-05,
grounded in this article and the 1 other(s) covering the same event.
A thinktank linked to Reform UK has called for the abolition of the state pension and £75bn worth of sweeping tax cuts in a “radical” report likely to influence the party’s platform for the next election.
asserted
thinktank → link → election
The Centre for a Better Britain’s (CFABB) report – which also calls for weaker rules for UK banks and Trump-style investment accounts offering £1,000 to newborns – will be formally launched at a private event with City executives on Wednesday.
asserted
which → call → Wednesday
The 183-page report, entitled “Boosting Britain”, proposes abolishing taxes typically levied on wealthy Britons, including capital gains tax and inheritance tax, which it says disrupts family businesses and encourages people to move their wealth out of the UK.
asserted
it → entitle → UK
The CFABB – founded and led by former Reform chief operations officer Jonathan Brown – also calls for the elimination of stamp duty on property and shares, digital service tax and air passenger duty, and a drastic reduction in “internationally uncompetitive” corporation tax from 25% to 15% over eight years.
asserted
CFABB → found → years
That would effectively “remove up to 50% of the existing tax code” at a £75bn cost to the public finances.
asserted
That → remove → finances
The report said it amounted to a “a programme of radical reform to Britain’s financial system and tax code, designed ultimately to raise productivity and living standards through better-paid jobs, higher retirement incomes, higher business investment, more businesses starting and scaling, and less time and money spent on unproductive activity”.
asserted
businesses → say → activity
The report stresses that any tax changes would have to be matched by cuts to public spending – to avoid a Liz Truss-style market meltdown – but stopped short of outlining how exactly to match all of those cuts with cost savings.
asserted
changes → stress → savings
However, the CFABB says some ways to cut spending could involve closing the coveted public pension plan to new teachers and civil servants, and eradicating the state pension.
uncertain
ways → say → pension
The Department for Work and Pensions forecasts the state pension will cost the public purse £146.1bn in 2025 to 2026.
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pension → forecast → 2026
“The issue with the state pension is that it’s essentially a Ponzi scheme,” Brown told reporters at a briefing on Tuesday, suggesting workers were unfairly funding current retirees.
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workers → ’ → retirees
Instead, a “lifetime investment account”, would take its place.
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account → take → place
The Trump-style investment accounts would come as a £1,000 starter pack to children at birth, with account holders later contributing up to 15% of earnings into their personal retirement pot.
asserted
holders → come → pot
The state pension would only remain as “means-tested safety net” for the worst-off.
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pension → remain → worst
The report has been released weeks before prime minister Andy Burnham’s government is due to reveal its first budget.
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government → release → budget
The CFABB launched formally last year, after raising fresh funds under its previous guise, Resolute 1850 – a reference to the ship whose timbers were used in the White House’s Oval Office.
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timbers → launch → Office
Its report is likely to prompt debate, having also called for a sliding scale for bank taxes, breaking up the Treasury – moving some responsibilities to a new “Department for Economic Growth” – and making sure senior bosses at the Bank of England have their pay linked to hitting inflation targets.
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pay → prompt → targets
It has notable ties with Reform UK, with its operations based in Millbank Tower near Reform’s headquarters, but authors insisted that their work had yet to be reviewed by the party.
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work → have → party
CFABB has five staff, and previously counted James Orr – Reform UK’s former head of policy – as the chair of its advisory board.
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CFABB → have → board
Orr was suspended from Reform UK earlier this month after being filmed in an undercover investigation appearing to help orchestrate a plot to get around electoral laws on foreign donations.
asserted
Orr → suspend → donations
Orr denies wrongdoing.
asserted
Orr → deny → wrongdoing
A spokesperson for CFABB said Orr stepped down from the thinktank role when he took a job at Reform in February, and was not replaced.
asserted
he → say → February
The Aporia
