Britain’s Tory leadership contest

Jul 20: Party’s 357 MPs chose their final two candidates for leader
   
Jul 25: First head-to-head TV debate

Jul 28-Aug 31: Twelve regional hustings take place

Aug 5: Tory Party members receive postal ballots

Sep 2: Ballot shuts

Sep 5: Winner announced – becomes prime minister
  
     
Liz Truss, 46: Foreign Secretary 
113 31.7%

ECONOMY: To hold emergency budget to ease cost of living crisis. Claims £30 billion-plus tax cuts will boost economy. Will reverse 1.25% national insurance hike and 6% increase in corporation tax

BREXIT: Admits she was “wrong” to back Remain in 2016 referendum. Architect of Northern Ireland Protocol Bill that critics claim breaks international law. Unlikely to thaw
EU relations

DEFENCE: Defence spending to be 3% of GDP by 2030 – above 2% NATO target. Has consistently voted for use of UK military forces in combat operations overseas

IMMIGRATION: Will expand Rwanda deportation policy for asylum seekers to other countries


Rishi Sunak, 42: Former Chancellor
137 38.4%
        
ECONOMY: Denounces “fairytale” economics, pledges tax cuts only when inflation is under control. Interest payments on £2.4 trillion debt mountain predicted to hit £87 billion this year
  
BREXIT: Will continue with UK legislation to override Northern Ireland protocol, but expected to push for settlement with EU. Some 2,400 EU laws on UK statute book to be scrapped or reformed
  
DEFENCE: Has given more than £2.3 billion to help Ukraine in its war against Russia. Has consistently voted for use of military forces in combat operations overseas
      
IMMIGRATION: Supports controversial Rwanda deportation policy for asylum seekers
  

Sources: Financial Times, Institute for Fiscal Studies 
Pictures: Getty Images 
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