The race to elect a new Conservative Party leader, who will take charge as British Prime Minister early next month, flared up on Monday as the two finalists – Rishi Sunak and Liz Truss – clashed over their proposals to reduce the rising costs of livelihood crisis across the country.
The issue of inflation and how best to curb it has emerged as the main battle line in the race to 10 Downing Street, with both candidates offering different approaches. While Truss has promised immediate tax cuts if elected, Sunak has promised more targeted support for the most vulnerable households and later tax cuts.
A new row erupted over the weekend after Secretary of State Liz Truss told The Financial Times that her plan to cut taxes rather than offer alms was more conservative. This prompted an immediate rebuke from former Chancellor Rishi Sunak that it is “just wrong to rule out further direct aid” for struggling families this winter.
“Families are going to have a long, harsh winter with rising bills. But Liz’s plan to deal with that is to give big business and the wealthy a big boost, leaving those most in need of help in the cold”, Sunak writes in ‘The sun’.
Worse still, she has said she will not give direct aid payments to those most in need. We need sharp realism, not rigid eyes. That means bolder action to protect people from the worst of winter. I have the right plan and the right experience to help people through it,” he said.
Truss supporters responded back to say her comments over the weekend had been “misinterpreted”.
“What I think she is rightly challenged is the wisdom of taking large sums of money out of tax pockets and returning some of it in increasingly complicated ways,” said Secretary of Commerce Penny Mordaunt, a supporter of the State Department. Affairs. secretary.
“She is willing to do more to help people, but her focus is on doing it in a way that puts more money in people’s pockets, creating a fast-growing economy with higher wages and more people in work” Northern Ireland Secretary Brandon Lewis added. another Truss supporter.
While Truss has pledged a package of tax cuts worth £30bn, which Sunak claimed would raise inflation and save lower income earners just £59 a year. Both candidates are feeling the heat on the issue, however, as the UK economy is expected to plunge into a year-long recession as inflation hits more than 13 percent later this year, according to forecasts from the Bank of England last week.
Former British Labor Prime Minister Gordon Brown, himself a former chancellor, warned that the cost of living crisis is too serious to wait a few more weeks for a new prime minister.
He calls for the emergency committee of the Cabinet Office Briefing Room A (COBRA) to meet immediately in “permanent session” and also calls for the urgent recall of Parliament, which is on summer recess, unless outgoing Prime Minister Boris Johnson and both Tory leadership candidates could agree on an emergency budget in the coming days.
“Even if Boris Johnson is now on vacation, his deputies would have to negotiate hard to buy new oil and gas supplies from other countries and urgently create the additional storage capacity we are currently missing,” Brown writes in ‘The Daily Mirror. ‘. ‘.
Supporters of Britain’s former Chancellor of the Exchequer in the race are urging Conservative Party members, who will be voting by post and online later this month, to rate Sunak on his track record of supporting of families during the COVID pandemic crisis as chancellor.
Meanwhile, the bookmaker’s odds remain strong in Truss’ favor, with the bookmaker Oddschecker showing the Secretary of State well ahead with 87 percent and Sunak with a 13 percent chance of winning.
(This story was not edited by DailyExpertNews staff and was generated automatically from a syndicated feed.)