Foreign Secretary Liz Truss has thrown her hat into the ring to become the next Tory leader.
She’s expected to campaign for tax cuts, in a challenge to fellow contender Rishi Sunak.
‘I will fight the election as a Conservative and govern as a Conservative,’ she said, in what sounds like a swipe at Boris Johnson and Mr Sunak’s economic policy.
She added: ‘Under my leadership, I would start cutting taxes from day one to take immediate action to help people deal with the cost of living.’
Ms Truss has pledged to reverse the controversial National Insurance hike if made Tory leader.
The senior Cabinet minister, who is widely expected to be a front-runner in the already crowded race, is the 10th candidate to launch their campaign.
Tonight’s announcement follows an announcement from trade minister Penny Mordaunt earlier today.
Other contenders include former health secretaries Sajid Javid and Jeremy Hunt, ex-chancellor Rishi Sunak, his successor Nadhim Zahawi, and Transport Secretary Grant Shapps.
Former minister Kemi Badenoch and senior backbencher Tom Tugendhat have also thrown their hats into the ring.
Not long after Ms Truss’ announcement, Rehman Chishti MP also threw his hat in the ring.
Ms Truss’s pledge to scrap the national insurance rise, which came into effect in April, mirrors that of rival Mr Javid.
It marks a departure from her defence of the policy as a minister Mr Johnson’s Cabinet, prior to his resignation.
Back then, she was bound by collective responsibility to support the move publicly.
The levy was introduced to raise funds for the NHS and social care, but has proved controversial at a time when households are feeling the squeeze from soaring food and energy bills.
Ms Truss argued ‘it isn’t right to be putting up taxes now’, and as leader she would take ‘immediate action’ to assist with the cost of living crisis.
She said she would ‘keep corporation tax competitive’ – hinting that she wants to look again at Mr Sunak’s plans to hike the rate in April 2023.
But Ms Truss did not go so far as to match some of her fellow contenders’ pledges to scrap the rise entirely.
The Foreign Secretary said she would ‘get the private sector growing faster than the public sector, with a long-term plan to bring down the size of the state and the tax burden’.
Writing in The Telegraph, she said: ‘Under my leadership, I would start cutting taxes from day one to take immediate action to help people deal with the cost of living.
‘I would reverse the national insurance increase that came in during April, make sure we keep corporation tax competitive so we can attract business and investment into Britain, and put the Covid debt on a longer-term footing.’
Ms Truss said her plan would get the country back on track towards becoming a ‘high-growth and high-productivity powerhouse’.
‘It is built on a clear and longstanding Conservative philosophy, including bold supply-side reform,’ she added.
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The Foreign Secretary said she had ‘led the way’ in making the most of Britain’s ‘new-found freedoms’ outside the EU, but insisted ‘we can go further, whether it is doing more to champion innovation or charting our own course on regulation’.
Promising ‘clear and decisive leadership’ if made leader, she said: ‘Colleagues know I mean what I say and only make promises I can keep. I can be trusted to deliver.’
Ms Truss said the Tories can win the next election, but acknowledged it will be ‘an uphill battle’, after a series of recent scandals have badly damaged the party’s reputation.
Earlier, announcing her bid for the top job, Ms Mordaunt said the UK’s leadership ‘needs to become a little less about the leader and a lot more about the ship’.
As the race for leader heats up, more Tories have declared their allegiances.
Former Cabinet minister Michael Gove – who was dramatically sacked by Mr Johnson earlier this week – pledged his support for Ms Badenoch, while Work and Pensions Secretary Therese Coffey said she would back Ms Truss.
Andrea Leadsom, who has contended for the Tory leadership in the past, endorsed Ms Mordaunt.
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