British Foreign Secretary Liz Truss has become the latest high-profile name to put herself forward, repeating her rivals’ promises to cut taxes and saying she will maintain a tough line on Russian President Vladimir Putin. Johnson was forced to resign last Thursday after his government imploded over a series of scandals. Sign up now for FREE unlimited access to Reuters.com Register The contest is for the leadership of the ruling Conservative Party, with the winner then becoming prime minister. The goal is to find a successor by early September. Lawmakers will have until July 21 to narrow the candidates down to a final two, before a postal vote of the Conservative Party’s 200,000 members is held in the summer. Bob Blackman, a Conservative MP who is on the 1922 executive committee that sets the rules, said the process would be finalized on Monday afternoon. He expected the candidates to secure the support of around 20 MPs to advance to the first round of voting, before further votes decide the final two. Already the battle for the top spot is becoming personal. Former Chancellor of the Exchequer Sajid Javid, another of the candidates, criticized what he called “venomous gossip” and “attack notes” delivered by some colleagues at the weekend. “This is not House of Cards or Game of Thrones, and people who are here just to enjoy the game are in the wrong place,” he said. “This is the time to come together, not to divide.” The fight followed one of the most tumultuous periods in modern British political history, when more than 50 cabinet ministers and aides resigned, denouncing Johnson’s character, integrity and inability to tell the truth. With many lawmakers unhappy with the disgraced Johnson staying in power until a successor is found, the party is trying to speed up the election process.
TAX REDUCTIONS
The issue of tax cuts was quickly becoming the central battle in the race with nearly all candidates promising to cut corporate or personal taxes. Outlining her proposal, Tras, who has held ministerial posts in several government departments including trade, justice and the finance ministry, said she would reverse the recent increase in National Insurance contributions and signaled a cut in corporate tax. Fellow candidates Jeremy Hunt and Javid both promised to cut corporation tax, while former defense secretary Penny Mordant promised to cut fuel tax. Former finance minister Rishi Sunak is the front-runner, but he is the only candidate to downplay the prospect of impending tax cuts, saying the adoption of “comfort tales” will leave future generations worse off. That prompted his opponents to attack his financial record after the tax burden rose to the highest level since the 1950s. An MP confirmed that a dossier criticizing Sunak’s record had been circulated in MPs’ WhatsApp groups.
“FINANCIAL FANTASY”
Nadhim Zahawi, appointed finance minister in last week’s upheaval, said he was also targeted by rivals after media reports raised questions about the former businessman’s personal finances and tax record. Whoever wins the race for leadership will be faced with a terrifying in-tray. Britain’s economy is grappling with soaring inflation, high debt and low growth, with people facing the tightest financial squeeze in decades, all amid an energy crisis exacerbated by the war in Ukraine that has sent fuel prices skyrocketing. On immigration, all the main leadership candidates have pledged to maintain the government’s policy of sending asylum seekers to Rwanda, showing how the party has moved to the right of the political spectrum in recent years. Other candidates include Attorney General Suella Braverman, House Foreign Affairs Committee Chairman Tom Tugendhat and Transport Secretary Grant Shapps. One Conservative MP said he was surprised by the number of his people who took part in the leadership contest. “I shouldn’t be surprised by the ambitions and delusions of some of my colleagues, but I am,” he said. “I expect we will narrow down the list of candidates very quickly.” Opposition Labor leader Keir Starmer in a speech took aim at a “weapon of financial fantasy” by Conservative leadership candidates, claiming more than 200 billion pounds ($239 billion) of pledges made over the weekend were not funded. Johnson refused to endorse either candidate. ($1 = 0.8357 pounds) Sign up now for FREE unlimited access to Reuters.com Register Additional reporting by Muvija M and Kylie MacLellan. Editing by Angus MacSwan and Hugh Lawson Our Standards: The Thomson Reuters Trust Principles.
