'We have to tell the truth about the cost of living' Tory leadership candidate Rishi Sunak says 'rising inflation is the enemy that makes everyone poorer' and pledges to make more tax cuts 📺 Sky 501, Virgin 602, Freeview 233 and YouTube
The first aim of this speech was for Rishi Sunak to re-emphasise the familiar message that in his view, he is the proper Thatcherite.
Mr Sunak talks a lot about domestic policy and some of the more pressing issues that will be affecting people at home and then cantered through a list of six or seven things that he said that we need to tell the truth about. "Today, my campaign with party members begins. My campaign will represent the very best of conservative values. I will give everything to earn every vote, but be in no doubt - I am the underdog.
Asked if Ms Truss' plan to cut taxes and increase borrowing is wrong, the former chancellor said:"I do believe that it is the wrong approach for the government at this moment to be borrowing an extra tens and tens and tens of billions of pounds at a time when inflation is rising almost at double digits and interest rates are already on the rise.
“That’s not project fear, that’s being honest with the country about what is happening and being responsible in saying this is a pressing priority that the government needs to help resolve and not make worse."“That’s not project fear. Ignoring that problem is irresponsible, that’s not leadership," said Mr Sunak.
Want to hear more from the Labour leader? Check out our political editor's recent interview with him below. The issue of Brexit is never far away in a Tory leadership contest, and Rishi Sunak and Liz Truss are touting their credentials. "A believer in Brexit from the beginning," a spokesperson for Mr Sunak said, as he accused the EU of “petty and unwelcome steps that infringe on our sovereign rights” for launching fresh legal proceedings against the UK.
The foreign secretary is being pitched by backers as the anti-establishment candidate who can promise change. The leaders also about the training of Ukrainian troops in the UK, the UN deal on getting grain out of the country, and ongoing concerns of prisoners being held by Russian-backed forces in Ukraine.
The two candidates will also take part in a debate on the BBC on Monday, as well as Sky News' own debate, hosted by Kay Burley, on Thursday 4 August at 8pm.Away from the leadership contest, and the current government is facing a big hole in their pockets if one of their plans is ruled unlawful. But Philip Shaw, chief economist at banking group Investec, said:"There is little economic justification to cut taxes right now, despite the cost of living crisis resulting in an obvious temptation."
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