Rishi Sunak

2022 - 7 - 21

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Image courtesy of "Nikkei Asia"

Rishi Sunak and Liz Truss battle to be U.K.'s next PM (Nikkei Asia)

LONDON -- Britain's former Finance Minister Rishi Sunak will battle Foreign Secretary Liz Truss to become the country's next prime minister in the fin.

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As Race To Replace Boris Johnson Moves Up A Gear, BBC ... (Deadline)

Bosses at BBC Broadcasting House and Channel 4 Horseferry Road will be examining Rishi Sunak and Liz Truss's record on public broadcasting.

BBC bosses have said they are open to new models and are due to set out the principles of future funding in the coming weeks but losing a guaranteed £3.8B ($4.6B) a year would be a blow. Both broadcasters took a battering from Johnson’s firebrand Culture Secretary Nadine Dorries, via a recently announced review into the future of the BBC licence fee and, more existentially, legislation to privatize Channel 4. Of concern to the BBC, however, Politico reported last week that Sunak has said in private that he would be willing to scrap the £159 ($190) per year annual licence fee and look to alternative funding models when the BBC Charter expires in 2027.

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Rishi Sunak vs Liz Truss: The policies and voting records of the final ... (iNews)

The Tory leadership contest is set to heat up over the summer as the two remaining candidates attempt to woo over Tory party members.

It could be read as a desertion of the manifesto’s “levelling up” ambitions, though it could also prove popular among Tory rightwingers. The Rwanda plan has proven popular with Tory voters. She also helped push through the Northern Ireland Protocol Bill, despite critics’ claims that it breaks international law. What the manifesto said: The 2019 manifesto promised to establish greater “immigration controls” and to make the system “more fair and more compassionate”. What the manifesto said: The Conservative manifesto promised to exceed the Nato target of spending two per cent of GDP on defence and increase the budget by at least 0.5 per cent above inflation every year. What the manifesto said: The UK’s net zero pledge made up a fundamental part of the Conservative manifesto and plans to create a “Global Britain”. The 2019 manifesto said: “We will ensure that Northern Ireland’s businesses and producers enjoy unfettered access to the rest of the UK and that in the implementation of our Brexit deal, we maintain and strengthen the integrity and smooth operation of our internal market.” What she said: Although she campaigned to remain in the EU in the run-up to the Brexit referendum, Liz Truss has managed to pit herself as the Brexit contender in the leadership race. What the manifesto said: The Conservative manifesto promised to exceed the Nato target of spending two per cent of GDP on defence and increase the budget by at least 0.5 per cent above inflation every year. Voting record: Mr Sunak has consistently voted for the use of military forces in combat operations overseas and has voted to replace Trident with a new nuclear weapons system. It also promised to establish greater “immigration controls” and to make the system “more fair and more compassionate”. He spoke in favour of the controversial scheme “as the child and grandchild of immigrants” to the UK.

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Sunak and Truss must focus on cost of living and immigration – Tory ... (expressandstar.com)

The survey carried out by Ipsos found almost two-thirds of people who voted Conservative in 2019 said the two leadership candidates should be talking about the ...

However, Mr Sunak’s popularity with Tory voters has crashed over the last month, falling 12 points following his resignation from Boris Johnson’s Cabinet, while the number saying they have an unfavourable opinion of him has soared 19 points to 41%. Mr Sunak also had a slightly higher approval rating among 2019 Conservative voters, with 35% saying they had a favourable opinion of him compared to 33% saying the same about Ms Truss. Some 20% of the wider public said they had a favourable opinion of Mr Sunak, the former chancellor, while 17% said they had a favourable opinion of Ms Truss, the Foreign Secretary.

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Is it too late for Rishi Sunak to win over Tory members? (Financial Times)

We'll send you a myFT Daily Digest email rounding up the latest Conservative Party UK news every morning. This article is an online version of our Inside ...

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Rishi Sunak has a body language problem, says expert - and Liz ... (Sky News)

Judi James analyses Rishi Sunak, Liz Truss and Boris Johnson's final Prime Minister's Questions appearance, which was "the most painful moment of goodbye ...

He looked genuinely upset at that exit point, I have to say." Her body language and her vocal tone have got a kind of a brittleness to them. And watch out for too much of the thumb of power. But this was pretty much an overkill ritual" You could see when he was looking annoyed. And I think in the other debates, you could see those moments when a point hurts him.

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Liz Truss and Rishi Sunak begin their summer of hustings (New Statesman)

The Foreign Secretary highlights her loyalty to Boris Johnson, while Sunak calls Truss's fiscal vision “fantasy economics”.

Sunak, whose support has fallen among Tory members, will make the case for fiscal conservatism and argue that higher taxes are needed to fund struggling public services. Truss gave her first broadcast interview of the campaign this morning to Radio 4. It will be a fiercely-fought war of ideas, not least because the outgoing prime minister, Boris Johnson, blames Sunak for his demise.

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Labour Believes Liz Truss Is An 'Easier Target' Than Rishi Sunak ... (HuffPost UK)

Lord Hayward says the foreign secretary is seen as 'easier to take down' if she becomes prime minister.

One Labour MP told HuffPost UK that they had been told by the party not to attack Truss or Sunak on social media so as to not detract from the barbs exchanged between the pair themselves. Truss has accused Sunak of strangling off growth with his decision to increase national insurance by 1.25 percentage points, while Sunak has branded Truss’s promise to “cut taxes from day one” as a “fairytale”. “And therefore they feel that at the despatch box that she will be easier as a target and easier to take down.”

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Rishi Sunak vows to work night and day in campaign to be UK PM (Business Standard)

Former UK Chancellor Rishi Sunak has vowed to work night and day as he began the last leg of his campaign on Thursday to win over the Conservative Party ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The winner of this latest Conservative Party contest is due to face British voters in 2024, unless he or she chooses to call an early general election. And the best way to achieve economic growth is cutting taxes and bureaucracy, and boosting private sector investment and innovation, he writes.

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Liz Truss likely to be new UK PM, not Rishi Sunak: Report (Hindustan Times)

The Foreign Secretary campaigned for Britain to remain in the European Union before embracing Brexit with the zeal of a convert after the vote went the ...

While most of the outbreak is hitting beyond major cities, some neighborhoods in Shenzhen implemented new lockdowns and infections in Shanghai continue to spread -- spooking residents who endured previous isolation efforts. Tokyo will report its highest number of Covid cases for the entire pandemic on Thursday, Nippon Television reported, driven by the spread of more infectious variants just as Japan started reopening to tourists. She’s long been popular with those grassroots, topping the ConservativeHome league table of cabinet ministers for a year until February. In the most recent one earlier this month, based on a survey of party members, she ranked third, with a rating of 49. "Back in 2020 when Covid-19 was hitting Americans the hardest, India provided medicines and bio-supplies to the United States," Blinken said at the Supply Chain Ministerial Forum while praising India. Mario Draghi resigned as Italy's prime minister, throwing the country into turmoil and putting it on course for snap elections as soon as early October. The former European Central Bank chief delivered his decision to President Sergio Mattarella Thursday morning. Despite her lengthy tenure in the cabinet, Truss has at times struggled to be taken seriously by colleagues, the press and public. Truss reached the final two after trailing Sunak and Trade Minister Penny Mordaunt in the first four rounds of voting among Tory MPs; only managing to overhaul Mordaunt in a tight fifth vote. On Thursday, she told BBC radio that her cabinet experience has equipped her for the top job. Several people who have worked closely with Truss said it’s hard to know her true personal opinions on various political and policy issues. She served for four years as a councilor in southeast London, before entering Parliament as the MP representing South West Norfolk in 2010. Now, Truss stands six weeks -- and one ballot -- away from claiming the top job in UK politics, with only former Chancellor of the Exchequer Rishi Sunak standing in her way. And she’s gone from yelling slogans as a child against Margaret Thatcher’s 1980s Conservative government and leading Oxford University’s Liberal Democrat society to become the darling of the Tory Party right.

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Rishi Sunak and Liz Truss are struggling to convince Red Wall and ... (New Statesman)

Yet having spent the past week asking voters across the country their views on the Tory leadership race, I can tell you that he got about as close to ...

Sunak will have to convince the public he isn’t too rich to understand their struggles. Candidates pitching to voters who want a fresh start risk throwing the electoral baby out with the bath-water. That is the challenge that Liz Truss and Rishi Sunak face in their race to No 10. They also have to show that they “get it”. They now tell us that the packages of support to help with the rising cost of living feel paltry. For the not insignificant group who remain Johnson fans, and credit him with Brexit and the vaccine rollout, it’s: who else can do a better job?

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Truss v Sunak: how do Tory PM contenders differ on policy? (The Guardian)

What promises are leadership rivals making in terms of economy, climate, education and levelling up?

Sunak came out early for Brexit in the run-up to the referendum. Houchen said he was encouraged by Sunak’s interest in the levelling up agenda. He has committed to maintaining a cabinet-level secretary of state for levelling up. Sunak also supports the Rwanda removal scheme, though sources have briefed that he opposed it as chancellor over the £120m cost. He plans to help the best multi-academy trusts to expand, and deliver on a commitment to establish high-quality post-16 specialist free schools outside London and the south-east. Truss has pledged to reverse the national insurance rate rise, which was designed to fund health and social care.

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UK Prime Minister Race: Rishi Sunak, Liz Truss Slug It Out Over Tax (NDTV)

Liz Truss, the favourite to become Britain's next prime minister, on Thursday criticised rival Rishi Sunak over his tax policies while finance minister, ...

"I have developed my political views and ideas. he wrote in the Daily Telegraph. He urged his successor to "cut taxes and deregulate where you can to make this the greatest place to live and invest". Truss's message to the members is that she is a politician of conviction who will "bulldoze" through institutions that stand in the way of reform. "I am a Thatcherite, I am running as a Thatcherite and I will govern as a Thatcherite." "We've got a really positive message to take out to all our members now -- crucially, who is the best person to beat Keir Starmer and the Labour Party at the next election?"

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Rishi Sunak's meteoric rise and burden to make Britain 'Great' again (India Today)

Indian-origin MP Rishi Sunak has emerged as the top preference of Tory MPs for the UK PM post. The overwhelming support of the Tory MPs raises the question: ...

Such accusations have been plugging the country in a ‘cultural war’. Furthermore, the allegations of regional discrimination against Scotland have been fuelling the demand of independence of Scotland. But the growth of such demand is seen as a threat to the unity of the country. The white people of the Britain and the USA have been accused of jumping on the ladder of success very quickly because of their white privilege rather than their merit and hard work. The country held a referendum on its membership of the European Union in 2016, but the said referendum has divided the British society as well as leadership across the party line vertically into pro-Brexit and anti-Brexit. Pro-Brexit group won the referendum, resulting into diminished chance of anti-Brexit leaders in the politics. A section of British society and leadership has cultivated opinion that Britain has lost its relevance at the world stage due to its membership of the European Union. They thought that Britain would have more value and prestige at the world level if it came out of the European Union and revitalises international organisations such as the Commonwealth of Nations where it has primacy. There is no doubt that Rishi Sunak has emerged as the top preference of Tory MPs, and the table below explains the same. Rishi Sunak, the British-Indian politician, has topped the leadership contest of the Conservative Party of Britain-- Tory Party-- for the post of prime minister.

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Nine things you need to know about Rishi Sunak (WalesOnline)

He's a multimillionaire who found himself fined for attending Boris Johnson's birthday party in Downing Street.

He said he would demand that the first set of recommendations on whether each law should be scrapped or reformed would be delivered “within my first 100 days in the job”. The national insurance hike will remain in place if Mr Sunak becomes Prime Minister alongside plans to raise corporation tax from 19% to 25% from 2023. His father was a GP and his mother ran her own local chemist shop. 4. He is MP for Richmond in north Yorkshire. At his constituency home, the £1.5m Grade II listed Kirby Sigton Manor, he throws annual garden parties for local party members. Mr Sunak said business tax cuts will be prioritised and has previously pledged a 1p income tax cut in 2024. This came to wider public knowledge when it emerged she had nom-dom status meaning she was not legally entitled to pay tax in Britain on foreign income. He is said to have already had job offers from investment banks under his belt while still in his second year at Oxford. Mr Sunak moved to work for hedge funds in 2006. After completing an MBA from Stanford University, where he met his future wife, Mr Sunak went on to work for investment bank Goldman Sachs as an analyst. 5. His slogan for the campaign is: "Restore trust, rebuild the economy, and reunite the country". He has pledged to be fiscally conservative and promised a "return to traditional Conservative economic values" and says he will only lower taxes when inflation has been brought under control. It's one of a number taking place across the UK. He went on to study philosophy, politics, and economics at Lincoln College at the University of Oxford where he obtained a first-class degree. But the polls show he is less popular with party members who make the ultimate decision. They will get to vote over the summer with the result announced on September 5.

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PROFILE - Rishi Sunak, former chancellor of the exchequer and ... (Anadolu Agency)

Winner of Tory leadership contest to be announced on Sept. 5 will automatically become British prime minister - Anadolu Agency.

However, when Johnson and his wife were fined for attending Johnson's birthday party, Sunak was caught up in the incident too -- he says he did not know there was a party and turned up for a work meeting early. His popularity was dented, but not as severely as Johnson's, on whom the public was most focused. Johnson's poll ratings were obliterated and his position as prime minister was on the brink. As criticism of Johnson mounted, Sunak was increasingly talked up as a potential successor. He then earned a master’s degree in business administration (MBA) from Stanford University in the US as a Fulbright Scholar. At Stanford, he met his future wife, Akshata Murty, the daughter of an Indian billionaire. At the time, Johnson appointed Sajid Javid as Chancellor, but Javid quickly resigned after a clash with Johnson's powerful special adviser Dominic Cummings over an issue to do with staffing.

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'Impressed me most...': Adar Poonawalla backs Rishi Sunak in race ... (Business Today)

Serum Institute of India CEO Adar Poonawalla took to Twitter to back Indian-origin former UK Chancellor Rishi Sunak in race to become Britain's next prime ...

He gives much confidence to companies like ours who see the UK as a global business hub. He gives much confidence to companies like ours who see the UK as a global business hub. As a major investor & partner with 🇬🇧 I've followed the— Adar Poonawalla (@adarpoonawalla) #ConservativeLeadershipdebates closely.

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Truss Extends Lead Over Sunak in Race to Lead UK, Poll Shows (Bloomberg)

Foreign Secretary Liz Truss extended her lead over former Chancellor of the Exchequer Rishi Sunak in the race to be the UK's next prime minister, ...

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Weeks of Truss and Sunak tearing lumps out of each other should ... (The Guardian)

Whoever wins this race will inherit the social and economic failings of the austerity era – all of which they voted for, says Guardian columnist Polly ...

As she said on Radio 4: “We need someone with the toughness, the grit,” who is prepared to “take on the Whitehall machine and drive through change”. Sunak was “the continuity economic candidate” who had taken the UK in the “wrong direction”. He, along with the entire Treasury economic establishment, was “peddling a particular type of economic policy for the last 20 years” that had not delivered. Or knowing they look sure to lose whenever it comes, do they cling on through a couple of miserable years at the helm, sliding towards almost certain electoral doom? Everyone knows if Sunak loses, he’s jetting off with his green card, but his heavy shelling will have damaged Truss. Her own shower of quotes about economic failure will come back to haunt her, as will Michael Gove’s useful intervention on how the government is “ simply not functioning” on providing basic services. Look ahead, and nothing but worsening public services, deeper hardship for family budgets and a darkening relationship with the EU beckons. Even under a single transferable vote system, according to Forsyth, the Tories would only have won twice since the second world war, and not even Margaret Thatcher could have governed on her own. Safe, hisses Liz Truss – or more of the same, business-as-usual, failed economics that led us here?

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Rishi Sunak steps up attack on Truss tax cuts as poll puts his rival ... (The Guardian)

Former chancellor says opponent's economic policies risk stoking inflation and pushing up interest rates.

With inflation already at a 40-year high, he told LBC: “My strong point of view is if the government goes on a huge borrowing spree, that is only going to make that situation worse. He said spending cuts would be extremely difficult in the current circumstances. The Labour MP Stella Creasy said: “Families across this country are crying out for affordable childcare so that they don’t have to choose between their career and their kids. The former Conservative chief secretary to the Treasury David Gauke said he was concerned about Truss’s plans. Analysis from the Institute for Fiscal Studies (IFS) suggested Truss’s promises were ultimately likely to lead to public spending cuts. We’re stuck with a zombie government and ministers focusing on the leadership campaign instead of doing their jobs.”

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Liz Truss presents a serious challenge to Rishi Sunak | The ... (The Spectator Australia)

After all that, Sunak entered the final members' round to be Tory leader and UK PM with a comfortable 24 vote margin of advantage over the runner-up Liz…

They won’t represent – and won’t be able to claim – a completely fresh start. They’ll now need to show loyalty to a leader they didn’t want. Tory members, who according to surveys seemingly prefer Truss to Sunak, can’t be swayed by the idea that Truss would not be able to lead MPs because too few support her – which would have been a credible argument if Sunak had been supported by nearer 200 of his colleagues.

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Tory Contender Rishi Sunak Sees No UK Income Tax Cuts Before ... (Bloomberg)

Rishi Sunak, who is in the final runoff to be Conservative leader and the next UK prime minister, does not envisage being able to cut personal taxes until ...

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Sunak would not cut taxes before autumn 2023, in clear divide with ... (The Guardian)

Former chancellor would delay cuts until inflation under control, while rival has pledged immediate cuts. Rishi Sunak arrives to attend a hustings event.

About 160,000 fee-paying members – half aged over 60, 97% white and a large proportion male and from southern England – will have the chance to vote next month. In recent days, Truss has been highly critical of the Bank of England, even hinting at changing its mandate. Crucially, the former chancellor is said to be deeply worried by Keir Starmer’s attacks on the “fantasy economics” in the Conservative leadership race.

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Rishi Sunak is best placed to unite our country with a new style of ... (CapX)

Our next Prime Minister needs to be someone that understands financial services · Rishi Sunak has the analytical skills to grip the unprecedented challenges we ...

It is all about enabling economic growth and regeneration, protecting the financial services sector and its consumers. It was a privilege to work with him in HM Treasury for three years – I think he is best placed to unite the country with a new style of leadership for our country. He is ambitious for the sector and we are determined to see London take the top spot in the global rankings from New York. As Prime Minister, I know that he will quickly ensure the passage of the Financial Services and Markets Bill so that we can bring that work to fruition. As Chancellor, Rishi shared my desire to strive for an open, green, technologically advanced financial services sector that creates jobs and inspires growth across the whole country. It is impossible to overestimate the impact of our financial services sector on the UK economy. In the Treasury, I worked closely with Rishi to oversee a huge programme of work to put in place a post-Brexit framework for financial services that will build on our status as global financial leaders and allow the sector to grow further.

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Rishi Sunak refuses to match Liz Truss on tax cuts (Financial Times)

Former chancellor and foreign secretary trade policy blows as they vie for Tory leadership.

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No tax cuts until late next year, says Rishi Sunak (Telegraph.co.uk)

Ex-chancellor accuses Liz Truss of misleading public with 'non-inflationary' giveaways.

The move would save a household up to £2,514 a year. “I think it would damage trust, because part of rebuilding trust is for the Government and politicians to deliver the things that they say. Many international bodies, including the OECD, say that our current policy is contractionary, it’s likely to lead to a recession.”

Either Liz Truss or Rishi Sunak risk joining the list of culpable ... (Contractor UK)

Contractors now know that the two candidates to become the next leader of the Conservative Party and next prime minister are Rishi Sunak, the former.

Our hope, now, is that in light of the latest tragic suicide, whatever changes there are at the top of government will lead to a change of position on the loan charge and HMRC’s whole strategy. When it comes to the loan charge, whoever enters Number 10 Downing Street on September 5th must choose to act and save lives or they will join the long list of those who are culpable. We can but hope, continue to campaign and work with the now 250-strong APPG. We call on all who oppose this injustice to push the next prime minister and their team to commit to act, to help stop the suicides and to agree to work towards a resolution. What is shameful, if not shocking, is that from the top down, HMRC and the Treasury knew full well that the suicide risk linked to the loan charge is very high and they refused to listen and act. So why is it different when a UK government policy pushes people to their deaths, having been told that this risk existed? As former HMRC lawyer and solicitor-advocate Dr Osita Mba says:“HMRC and the Treasury are using the IPOC as a dishonest distraction. The only deliberate tax avoidance was by those end-clients who avoided paying employers national insurance, as well as not offering employee rights and benefits. Us at LCAG have had contact from several of the bereaved families and in other cases, from their advisers. Last week's letter from the FST...did not make it very clear that it was carried out by HMRC”. The unofficial message from both institutions (a statement from HMRC, handed to ContractorUK yesterday on behalf of HMT is italicised and underlined, below) is that, when it comes to defending a discredited and dangerous policy -- and covering up for HMRC’s failures and deceit, the lives of those facing the loan charge don’t seem to matter. It’s another needless death caused directly by an immoral policy that has allowed the UK’s discredited and out-of-control tax authority to retrospectively issue tax bills, with ordinary people unable to challenge those bills. This is the ninth person who had been facing ruthless pursuit from HMRC simply for following professional advice, who has taken their own life.

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Rishi Sunak says he 'challenged the system' and stopped December ... (North Wales Pioneer)

The former chancellor, who is battling against Liz Truss to become the next Conservative Party leader and prime minister, said it shows that he is “prepared to ...

Mr Sunak said he “challenged the system” and was glad he “won” the argument, adding that it should give people confidence that he is “prepared to push hard and fight for the things that I believe in even when that’s difficult”. “And I came back and fought very hard against the system because I believed that would be the wrong thing for this country, with all the damage it would have done to businesses, to children’s education, to people’s lives.” The former chancellor, who is battling against Liz Truss to become the next Conservative Party leader and prime minister, said it shows that he is “prepared to fight” for what he believes in.

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Liz Truss extends lead over Rishi Sunak in the race to become UK's ... (Sky News Australia)

Foreign Secretary Liz Truss has extended her lead over fellow candidate Rishi Sunak in the bid for UK's top job as prime minister after a poll of ...

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Tory leadership race: Channel 4 probe stirs fresh doubts over Rishi ... (The Independent)

As he goes head-to-head with foreign secretary Liz Truss during the Conservative Party leadership race in a bid to succeed Boris Johnson, his supporters have ...

Under California law, a property is considered to be jointly-owned by married couples regardless of which person buys it. The Independent has contacted Mr Sunak’s campaign team for comment. Start your Independent Premium subscription today. The couple has a combined net worth of about £730 million. “His father was a GP who worked and his mother was a pharmacist, and he used to help out on the weekends. This had been previously unreported.

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Rishi Sunaks tax affairs back in spotlight in UK race to succeed ... (Business Standard)

Rishi Sunak's tax arrangements were in the spotlight once again as he sought to position himself as the only candidate who could beat Labour leader Keir ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. “It’s pretty clear that I am the person that is best placed to defeat Keir Starmer in the next election,” he told LBC.

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Liz Truss v Rishi Sunak – podcast (The Guardian)

The race to become next prime minister has come down to an increasingly bitter battle between Liz Truss and Rishi Sunak. Heather Stewart weighs up the ...

But we increasingly need our readers to fund our work. And we want to keep our journalism open and accessible to all. Truss is promising immediate tax cuts worth about £30bn while Sunak says he will prioritise balancing the books and tackling inflation over what he calls ‘fairytale’ economics.

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