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Conservative leadership – live: Sunak warns of losing election if inflation rages as Truss heckles

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Sunak boasts of raising money from deprived urban areas

Rishi Sunak told Tory members the party would lose the 2024 general election if inflation is not brought under control in a veiled warning of the risks of electing leader Liz Truss, who wants to cut taxes immediately.

During an election campaign in Eastbourne, the former chancellor said he was particularly concerned about policies that risk making the situation worse and lasting longer.

At the start of the event, Ms Truss was heckled before resuming her speech to blame the infiltrators and attack the unjust protests that interrupt our democracy.

Earlier, Mr Sunak was filmed bragging about diverting funds from deprived urban areas to more prosperous areas that deserve it.

Labors Lisa Nandy has urged the government to investigate deeply concerning remarks made to grassroots Tories in Kent last month uncovered in footage obtained by the new statesman .

He told his supporters: I managed to start changing the funding formulas, making sure that areas like this get the funding they deserve because we inherited a bunch of formulas from the Labor who pushed all funding into deprived urban areas and which needed to be reversed.

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Thank you for following our live political updates, be back tomorrow with more coverage from the Conservative leadership.

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Sunak Announces Truss Corporate Tax Plan

Mr Sunak brushed aside Ms Truss’ plan to scrap the steep rise in corporation tax.

On what he plans to do to help businesses grow, the former Chancellor said during the Conservative leadership race in Eastbourne: We had this debate about corporation tax. I don’t want to stick to the failed policies of the past. That’s what some suggest. It did not work.

If we want companies to actually invest in the economy, expand their factories, install more lines, produce more stuff, that’s how we create more jobs. This is how we reduce inflation, if companies produce more. We need to reduce taxes on these things.

He added: Focusing on corporate tax has not achieved this goal. Investing in this economy today, no better than ten years ago, despite us doing all these things on corporate tax.

Because it’s the wrong tax to focus on. And that’s where my experience in business, my time as Chancellor, my conversations with business have led me to the conclusion that we need to be much more radical.

We need to reform corporate taxes to lower them on the things that make a difference. And that’s business investment, business innovation. If we put these tax cuts in place, we can help these businesses expand, grow, create jobs and prosper and, most importantly, bring down inflation.

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Candidates’ policy summaries omitted the climate crisis

A member of the public reveals that a document sent to members outlining the candidates’ policies made no mention of the climate crisis.

Mr Sunak said he believed in the goal of net zero, but rushing would mean losing support.

It was about scaling up innovation, he said, and unleashing the ingenuity of the private sector, he said.

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Sunak hints he may quit the ECHR

No option should be ruled out on whether to leave the European Court of Human Rights, Sunak said.

Not being able to tell countries to take back failed asylum seekers was clearly bonkers, he added. And the UK must have control of its borders.

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Crack down on developers, says Sunak

Mr Sunak blamed the developers for sitting on land and said he wanted to crack down on them, including buying up the land they were sitting on.

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Sunak: Conservatives will say goodbye to election victory unless inflation is checked

When asked if he would release data on various issues going wrong, Rishi Sunak advocates reforming public services to reduce taxes for citizens.

He said that unless inflation is brought under control, we can say goodbye to winning the next election.

Asked by host and former Downing Street adviser Jimmy McLoughlin what his pitch would be to win a fifth term, Mr Sunak said: Well the first thing we have to do to make sure we can win this election is to have gone through this inflation problem by then.

And that’s why I’m particularly concerned about policies that risk making the situation worse and lasting longer.

Because it’s a problem that’s not just for this winter. This is a problem for next winter too, and beyond.

Because, as the Bank of England has said it fears inflation is setting in, there is no hope of winning the next election. Absolutely none. It’s that simple.

We all heard what they said yesterday, you all saw the numbers. And if we don’t get this thing under control and we don’t get it under control quickly, then we can say goodbye to winning the next election.

So the first thing to put ourselves in a position to win is to get through inflation and get through it fast and not make it worse.

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Truss vows to continue to stand up to Putin and Lavrov

A member of the public suggested that Vladimir Putin must have been over the moon when Boris Johnson fell, asking what Liz Truss would do to make the Russian president less smug and give heart to the valiant Ukrainians.

Praising Mr Johnson, the Foreign Secretary said she did not believe many leaders had succeeded in having their name put on a street in Ukraine and a crescent, adding: the leadership we have shown in Ukraine.

I will continue to stand up to Putin, to stand up to [Russian foreign secretary Sergei] Lavrov, adding: It is important that it is not just a matter of rhetoric, but also of security in which the UK invests. This is why I intend to increase defense spending to 3% of GDP.

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Truss says more people need to return to offices

Liz Truss said it was important to get more people back into offices because we need to make sure our cities and town centers thrive.

The Foreign Secretary said that while it worked to some degree during Covid I certainly had Zoom fatigue and there were a lot of people in the civil service who had Zoom fatigue so I think that we have to try to encourage people to come to the office more than they currently do.

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Truss interrupted again by climate protester

During questions from the audience to Liz Truss, another protester interrupted the proceedings to warn of the deteriorating climate.

Someone obviously has a mic who shouldn’t have one, an audience member during hustings might be heard making remarks.

Ms Truss said: I take it as a compliment that I am so popular with Extinction Rebellion.

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Truss says Lib Dem activism was the sex, drugs and rock n roll of his youth

People may know I have a dodgy past, Liz Truss said of her youth as a Lib Dem activist, saying: We all have teenage mishaps and this was mine.

When asked if it was the naughtiest thing ever, the Foreign Secretary made the audience laugh by adding: Some people have sex, do drugs and rock n roll, I was in the Liberal Democrats.

Sources

1/ https://Google.com/

2/ https://www.independent.co.uk/news/uk/politics/liz-truss-vs-rishi-sunak-recession-tory-leadership-debate-b2138707.html

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