Angela Rayner brutally savages Nigel Farage's 'sweetheart deal' with billionaires

Angela Rayner has taken a brutal swipe at Nigel Farage's botched "sweetheart deal" with overseas billionaires.

Standing in for Keir Starmer at PMQs, the deputy Prime Minister lashed out at the Reform leader's 'Britannia Card' plan, whichexperts say will give a £34billion "bonanza" to super-rich foreign tycoons.

Ms Rayner said she agreed that this was a "betrayal" of working people - and claimed "the mask has slipped". She made the remarks after Mr Farage was mocked by Labour backbencher Kanishka Narayan.

He asked the deputy PM: "The member for Clacton (Mr Farage) puts a singular burning injustice first - the plight of overseas billionaires.

"Does the Deputy Prime Minister agree with his priority or with me, that the reform UK doing sweetheart deals with the super rich is a betrayal of British working people?"

The Reform leader wants wealthy tycoons from overseas to pay a one-off fee of £250,000 in exchange for a string of tax breaks. But experts warn it could wipe a massive £34billion from tax revenues and give a massive tax windfall to overseas billionaires.

READ MORE: Angela Rayner hits back at Tory rival after taunts over welfare rebellion

Ms Rayner responded: "My honourable friend is absolutely right, the mask has slipped again this week.

"The honourable member for Clacton (Mr Farage) demands billions more in unfunded tax cuts for the very richest while he marches through the lobby in the House of Commons to vote against sick pay for the lowest earners.

"We know who will pay Reform tax breaks, Mr. Speaker, for overseas billionaires - tax hikes on working people and patients being charged to see their doctor. Labour won't let that happen."

Earlier this week Mr Farage said he was "not clever enough" to answer questions about the hit to the UK's economy when challenged about the impact. He proposes creating a 'Britannia Card', which would see those who pay up offered a 10-year renewable residence permit and shielded from UK tax on their overseas income.

They will also be spared having to pay inheritance tax. The "Robin Hood" tax would see revenues distributed between the 10% lowest earners.

But analysis from the Tax Policy Associates found Mr Farage and co will offer a "much more generous regime for the very wealthy" than the Tories did. It said there would be "no wider economic benefit" from the windfall, which would be enjoyed by "a relatively small number of very wealthy people".

It estimates this windfall would be worth £34billion lost to the Government over five years. Labour chairwoman Ellie Reeves said: “ Nigel Farage ’s new policy is quite simply a bonanza for billionaires.

“Not only is this a golden giveaway to the rich, but experts warn this will leave a massive black hole in the country’s finances that working people will be left to pick up the bill for.

“Reform UK is not serious or credible. Every family in the country would foot the bill for their dangerous and unfunded Liz Truss style policies which would devastate Britain’s economy.”

READ MORE: Join our Mirror politics WhatsApp group to get the latest updates from Westminster