Business Secretary Kwasi Kwarteng has reaffirmed his backing of Liz Truss to become the next Prime Minister.
Having introduced the Foreign Secretary when she made her leadership bid, the senior cabinet figure told how nothing had changed with his choice now in the final two. The vote now goes out from Westminster to party members, with around 160,000 to poll.
Speaking to Business Live as he helped launch the build of a 拢150 million magnet metals plant in Hull while releasing a first ever critical minerals strategy, he said: 鈥淚 am backing Liz Truss, she has fresh ideas, a lot of experience and impetus. I don鈥檛 think we can tax our way to growth.
Read more:Chamber urges PM candidates not to backtrack on 'levelling up' agenda
鈥淲e have a 70-year high in terms of tax take, that鈥檚 not something sustainable, and that鈥檚 something Boris Johnson was looking at. That鈥檚 something Liz will deliver.鈥
According to , Mr Sunak, who until the successful bid to remove Mr Johnson from office in the first of a wave of resignations was Chancellor, will not cut taxes before autumn next year.
Ms Truss has pledged an emergency budget to reverse the national insurance rise, scrap the planned corporation tax increase and suspend the green levies on energy bills - with analysis putting the cost at 拢30 billion a year.
Mr Kwarteng has been touted as a potential next chancellor, having served in BEIS for three years, first as Energy Minister then as Secretary for State. He succeeded Alok Sharma when he took on the COP26 presidency ahead of the 海角视频 hosting of the United Nations鈥 climate change conference last October.
鈥淚鈥檓 not seeking any job whatsoever,鈥 he said, stating it was way too early.
鈥淚 love being Business Secretary, I love what we do, meeting fabulous businesses. This is still a contest, we don鈥檛 know who the next Prime Minister will be.
鈥淩ishi Sunak is a strong contender, Liz is very good, and she鈥檚 my favoured leader.鈥
Mr Kwarteng co-authored the book Britannia Unchained, Global Lessons for Growth and Prosperity, with Ms Truss, as well as fellow cabinet members Priti Patel, Dominic Raab and former Science Minister Chris Skidmore.
Of the party's position as a whole, Mr Kwarteng, who represents the London borough of Waltham Forest and was first elected in 2010, said: 鈥淭he party can recover very strongly, we are two years from a general election, and we鈥檒l have a new Prime Minister in six weeks.鈥
A nationwide tour is anticipated ahead of the ballot closing on Friday, September 2, with the winner announced on Monday, September 5, taking the keys to 10 Downing Street.
Read next:
Drax agrees to keep coal on standby as government shores up winter energy options
Boris Johnson resignation 'soap opera' must end now, say business leaders
Green aviation fuel first praise as Jet Zero Strategy sees government commit to five plants by 2025
All your Humber business news in one place - bookmark it now
