Politics LIVE: Reform warn of 'desperate attack' from Keir Starmer ahead of major speech

Sir Keir Starmer will launch a "desperate attack" on Nigel Farage's economic plans because he is eight points behind in the polls, Reform UK has said. The Prime Minister is expected to urge the public to reject Reform UK's calls to use "family finances" as a gambling chip on "unfunded" tax cuts.

It comes after the Institute for Fiscal Studies (IFS) said the party's pledge to increase the income tax personal allowance to £20,000 a year could cost between £50-80billion annually. Speaking at a press conference in central London on Tuesday, Mr Farage said his measures were "aimed at British families" as he announced plans to scrap the two-child benefit cap and fully reverse the winter fuel payment cuts. Sir is expected to say: "In opposition, we said Liz Truss would crash the economy and leave you to pick the bill.

"We were right. And we were elected to fix that mess. Now in government, we are once again fighting the same fantasy - this time from Nigel Farage.

"Farage is making the exact same bet Liz Truss did. That you can spend tens of billions on tax cuts without a proper way of paying for it. And just like Truss, he is using your family finances, your mortgage, your bills as a gambling chip on his mad experiment. The result will be the same.

"Liz Truss bet the house and lost. £45billion in unfunded tax cuts, with no means to pay for them. Markets reacted, the economy tanked and we're all still paying the price for mortgages, rents and bills that spiralled out of control.

"I won't let that happen. Labour's Plan for Change has stabilised the economy, with growth at the fastest rate in the G7 this year, four cuts to interest rates, and a pay boost for 3.5million low-paid workers."

But a Reform UK spokesman branded Sir Keir's intervention as a "desperate attack from a party eight points behind in the polls".