Front runners in UK leadership race Contenders to succeed Boris Johnson as British prime minister must secure the backing of 120 MPs to reach the final shortlist of two candidates Jul 18-21: Shortlist of two decided after fellow MPs eliminate three of five remaining candidates Jul-Sep: Final two candidates put to postal vote of Tory party members Sep 5: Leader elected Rishi Sunak, 42: Former Chancellor Tax: Pledge to cut taxes once inflation – which hit 40-year high of 9.1% in May – is under control Immigration: Britain must control its borders. Supports plan to deport asylum seekers to Rwanda Cost of living: As finance minister Sunak handed out £37 billion to combat rising costs Brexit: Voted Leave Penny Mordaunt, 49: Trade Minister Tax: Pledges to slash VAT on fuel by 50% and raise tax thresholds for basic and middle-income earners Immigration: Crack down on people smugglers. Supports plan to deport asylum seekers to Rwanda Cost of living: Focus on getting inflation under control, working closely with central bank Brexit: Voted Leave Liz Truss, 46: Foreign Secretary Tax: Pledge to immediately cut taxes and reverse recent rise in social security contributions Immigration: As Foreign Secretary she was member of Johnson cabinet that approved Rwanda plan Russia: Sanctions should continue until full withdrawal from Ukraine Brexit: Voted Remain Sources: Bloomberg, Reuters Pictures: Getty Images © GRAPHIC NEWS