Foreign Secretary Liz Truss Enters Tory Leadership Election

British foreign secretary Liz Truss
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Ms. Liz Truss announced her intentions in the Daily Telegraph and promised to begin lowering taxes “from day one.”

Many of the 11 candidates vying to lead the Tory party have made competing tax policies a central component of their bids.

The leadership race’s schedule and regulations will be decided at a meeting on Monday of the 1922 Committee, a group of backbench Tory MPs that organizes competitions.

Through voting rounds, Conservative MPs will reduce the field to two, and then the party will choose a winner to serve as the new leader and prime minister of the Conservative Party.

Ms. Truss said she would intend to cut company tax, roll back the National Insurance increase, and overhaul business rates, echoing her opponents.

In her letter, she stated that she would take “rapid action” to help with living expenses if elected because it “isn’t right to be putting up taxes now.”

She would “contest the election as a Conservative and govern as a Conservative,” the foreign secretary declared.

The candidates who have so far announced for Tory leader and prime minister are:

  • Kemi Badenoch, a former minister of equality
  • Suella Braverman, Attorney General
  • Rehman Chishti, the recently appointed minister of foreign affairs
  • Jeremy Hunt, former secretary of health
  • Sajid Javid, a former secretary of health
  • Penny Mordaunt, minister of trade
  • Grant Shapps, Secretary of Transportation
  • Rishi Sunak, a former chancellor
  • Liz Truss, foreign secretary
  • Tom Tugendhat, a backbencher
  • Nadhim Zahawi, chancellor

Priti Patel, the home secretary, is also rumored to be debating a run.

In addition to stating that he was “one of a few Conservative MPs who didn’t vote for the National Insurance rise,” which he dubbed a “tax on jobs,” Mr. Tugendhat said that he would be “working to decrease taxes across every part of life.”

He stated that the UK must be “going for growth” in an interview with BBC Radio 4’s Today program. He stressed that this can only be done by removing “the brakes off the economy” and encouraging the private sector.

He also promised to “deliver the rewards” of Brexit, claiming he would reform how the country invests and open up trade agreements.

With his own company, Mr. Hunt served “in the coalface” and promised to “get the British economy going” on BBC Breakfast.

He continued, “We need to have a lower-tax environment to enable firms get off the ground.” This would entail lowering corporation tax.

In Mr. Hunt’s words, “if we spread them across a five-year period, which means that our national debt continues to shrink as a proportion of our GDP, we can do this within our fiscal constraints.”

“And in my opinion, that is moral as well as just. If we’re putting more debt on the shoulders of future generations, we shouldn’t be cutting taxes.”

On Sunday, Mr. Chishti also announced his candidacy. In his remarks, he emphasized the value of lower taxes, a limited state, and a large society.

In contrast to Mr. Sunak, who has downplayed the possibility of tax cuts before the state of the public finances improves, there have been a lot of tax-cutting ideas unveiled thus far.

The former chancellor made a video to introduce his candidacy but has not yet provided an economic justification.

“Comforting fairy tales” that “leave our youngsters worse off tomorrow,” he advised against.

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