Nadhim Zahawi, the newly appointed chancellor, Grant Shapps, the transport secretary and former health secretaries Jeremy Hunt and Sajid Javid all announced their bids on Saturday. Earlier in the day Ben Wallace, who was the bookies’ favorite to succeed Johnson, announced he would not be standing. Eight Tories have now thrown their hat into the ring, including Rishi Sunak, the former chancellor. Unveiling his bid, Mr Zahawi, who was born in Iraq and “came here aged 11 without a word of English”, said it would “steady the ship and stabilize the economy”. In a statement setting out his vision for the country, he also said “the tax burden is simply too high”. Mr Shapps, meanwhile, said he wanted to make the economy the biggest in Europe by 2050. He also pledged to tackle rising inflation, but added that the state would have to “get out of the way” in some areas. Launching his campaign in the Sunday Times, Mr Shapps said: “We need to trust people and let them spend their money as they want.” Use Chrome browser for more accessible video player 5:20 The fall of Boris Johnson Hunt, who was health secretary under Theresa May, has been tipped as the only candidate who can win back confidence as he is the only major candidate who has not served in Mr Johnson’s government. He also pledged to cut corporate taxes to the lowest level in the Western world. “By electing me,” he said, “the Conservative Party is sending a message to these voters that we have heard your concerns and have changed. Javid’s resignation as health secretary on Tuesday started the avalanche of resignations that forced Johnson out. His position as leader is focused on cutting taxes. Announcing his bid to The Sunday Telegraph, he said he would cut corporation tax by 1% a year to eventually reach 15%. Read more: Who are the frontrunners for the next prime minister? Mr Javid said “the tax rate is already almost at a 70-year high – and that was under the Conservatives”. Mr Sunak announced his candidacy on Friday, pledging to “restore trust, rebuild the economy and reunify the country”. He resigned from the Treasury shortly after Mr Javid. He has won the endorsement of former Tory chairman Oliver Dowden and former cabinet minister Liam Fox. Follow The Daily Podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker Tom Tugendhat, the former soldier and chairman of the foreign affairs select committee, became the first MP to enter the fray on Thursday. Former Equalities Minister Kemi Badenoch has also announced she will stand, revealing plans to radically reduce the size of the state and preside over a “limited government focused on the basics”. Suella Braverman, the attorney-general, promised “quick and big tax cuts” to bring down inflation as she revealed her offer to the Daily Express. Dominic Raab, the deputy prime minister, has reportedly ruled himself out of the race, as has former innovation secretary Michael Gove, who was sacked by Johnson before his own resignation. Liz Truss, the foreign secretary, and Priti Patel, the home secretary, are also expected to announce bids.
