(MENAFN) Reform UK leader Nigel Farage asserted on Monday that the United Kingdom has been “living under an illusion” regarding its economic situation, criticizing successive administrations for failing to confront the nation’s “economic mess.”

Addressing an audience in the City of London, the far-right politician suggested that another disheartening budget was imminent, one that would lack the bravery to reduce public expenditure.

“I think for some years we’ve actually been living under an illusion. We’ve not been prepared to face up to just how much of an economic mess we genuinely in,” Farage remarked.

He added that as the UK declined in global rankings, the public deceived themselves into believing everything was fine due to GDP growth.

“As we slipped down the global league tables, we kid ourselves that it’s OK, we’ve got GDP growth. But there wouldn’t have been any GDP growth over the course of the last few years if it wasn’t for mass migration on a scale hitherto never even contemplated.”

Farage also argued that the promise of Brexit had been “squandered,” claiming that the country's regulatory framework had deteriorated since the 2016 referendum.

“Brexit has been squandered. The opportunity to sensibly deregulate, the opportunity to become competitive globally – all of that has been squandered,” he said.

“And the worst thing is that regulations and the way regulators behave with British business is now worse than it was at the time of the Brexit referendum vote.”

He maintained that economic growth had only seemed positive due to immigration, emphasizing that “on an individual basis, mass migration has made the average Britain poorer.”

MENAFN04112025000045017167ID1110291385