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Johnson, Boris

Tory Leadership Contest Heats Up as Nine Candidates Put Themselves Forward

Strategic Insights

— 1 min read

The Conservative Party is bracing itself for a crowded leadership contest, with nine candidates announcing their intentions to replace Boris Johnson as Prime Minister. Former Health Secretaries Jeremy Hunt and Sajid Javid have pledged to scrap the planned corporation tax rise and slash the rate to 15% in a bid to boost economic growth.

Key Takeaways:

  • Nine candidates have announced their intentions to run for Tory leadership, including Jeremy Hunt, Sajid Javid, Nadhim Zahawi, Grant Shapps, Rishi Sunak, Suella Braverman, Kemi Badenoch, Penny Mordaunt, and Tom Tugendhat.
  • Jeremy Hunt and Sajid Javid have pledged to scrap the planned corporation tax rise and slash the rate to 15% in their first autumn Budget.
  • Hunt plans to remove business rates for five years for communities most in need, specifically targeting areas in the "Red Wall" of traditional Labour heartlands.
  • Sajid Javid has proposed a "glide path" to reduce corporation tax, while also scrapping the national insurance hike and introducing a significant temporary reduction on fuel duty.
  • Rishi Sunak has launched his leadership bid with the message "Let's restore trust, rebuild the economy and reunite the country."
  • Defence Secretary Ben Wallace has ruled out running for the top job, citing "careful consideration" and discussion with colleagues and family.
  • Former minister Steve Baker has thrown his support behind Suella Braverman's campaign.
  • The Government's economic vision will be revamped, with Penny Mordaunt promising to deliver a new economic vision for Britain.

Statistics:

  • 9 candidates have announced their intentions to run for Tory leadership.
  • 25% of locations in England and Wales will benefit from Jeremy Hunt's business rates cut plan.
  • Up to £5 billion available for a new package of support to help with energy bills, according to Sajid Javid.
  • 20-30 years ago, it was true under Margaret Thatcher, and it's true now, free markets, low taxation, and light regulation are necessary for growth, according to Sajid Javid.

Sources:

  • @PennyMordaunt, Twitter, July 9, 2022
  • The Telegraph, July 9, 2022
  • GB News, July 9, 2022
  • Rt. Hon Ben Wallace MP, Twitter, July 9, 2022

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