GB News star Camilla Tominey took issue with Reform UK’s ‘contract with the people’, which the party launched today in Wales.
She grilled the party’s former leader, Richard Tice, on the series of pledges by questioning whether they are deliverable.
Nigel Farage today set out plans including cutting interest on reserves, which he believes will save the country £35 billion a year.
Tominey suggested to Tice this is pie in the sky thinking and economists are “completely debating” the figure put forward.
Richard Tice defended Reform's 'contract'
GB NEWS
“They say it’s a good policy, but actually it will only save at best, £3 billion, so how have you come up with £35 billion?”, she asked.
“It’s simple and clearly they can’t use a calculator”, he snapped back.
Nigel Farage has unveiled Reform UK's "contract with voters" today, warning that Britain is "broken"GBNHe added: “The current rate of interest is about five and a quarter per cent.”
Camilla then interjected to point out that it is widely expected the Bank of England will reduce interest rates in the coming months.
Tice argued they will “barely” come down, before appearing to grow frustrated at another interjection by Camilla.
“Hear me out. If you’re going to ask a question, let me answer”, he said.
Richard Tice was grilled by Camilla Tominey
GB NEWS
“Five per cent plus or minus is about the long term average of base rates over decades.
“Except in the past decade. It’s a perfectly reasonable assumption. Interest rates could go up, in this case, this sum goes up.
“Last year, the Government spent £20 billion. I have put the number out there because I want to trigger the debate.”
Camilla said the number put forward is the “most generous possible” as interest rates being cut would mean the number put forward is inaccurate.
“Mr Tice. We are very aware that the Bank of England is probably going to cut interest rates in August”, she said.
“They can’t go up any further, inflation has come down and rates will come down. This £35 billion is a bit chunky, isn’t it?”
Tice continued to defend the sum, saying: “If interest rates go up, the number grows. That is a mathematical calculation based on where interest rates are today.”
