Reform-linked thinktank reportedly plans sweeping tax and regulatory changes

The Centre for a Better Britain is reportedly preparing proposals to abolish inheritance tax, phase out capital gains tax and reduce financial-sector regulation. The thinktank says reports based on an early draft contain inaccuracies and insists its final document will not propose unfunded tax cuts.

A thinktank associated with Reform UK is reportedly preparing a policy document that would call for major tax and regulatory changes, including the abolition of inheritance tax and the phasing out of capital gains tax. Bloomberg, citing unnamed sources, reported that the Centre for a Better Britain (CFABB) is due to publish the 200-page document next week.

The proposals would benefit some of the UK’s wealthiest taxpayers, according to the report. The source material says inheritance tax raised £8.5bn last year, while capital gains tax generated a record £24bn in 2024-25, meaning the reported changes could remove significant Treasury revenues.

The thinktank is also expected to propose reducing rules and regulation affecting financial services, described in the report as “Big Bang 2.0”, a reference to the deregulation of the City of London in the 1980s. Other reported ideas include separating the Treasury’s economic-growth responsibilities and transferring them to another department.

However, a CFABB spokesperson disputed the account’s accuracy. The spokesperson said Bloomberg appeared to have received an early draft that did not reflect the document due for publication, and said the final report would contain “no unfunded tax cuts”. They also rejected suggestions that the proposals would return financial regulation to conditions before the 2008 financial crisis, without specifying which reported details were incorrect.

CFABB was founded by Jonathan Brown, a former Reform UK chief operations officer, and operates near Reform’s headquarters in London. The thinktank previously operated under the name Resolute 1850. Its links to Reform have drawn attention as the party faces scrutiny over £72m in donations made by crypto billionaires Ben Delo and Christopher Harborne; both donors deny seeking influence over party policy.

The source material also says former Reform policy chief James Orr previously chaired CFABB’s advisory board. Orr was suspended by Reform after an undercover investigation appeared to show him discussing ways to circumvent electoral rules on foreign donations, allegations he denies. CFABB said he left its role when he joined Reform in February and was not replaced.