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Andrea Leadsom calls for 'prosperity not austerity' in Tory leadership pitch Andrea Leadsom calls for 'prosperity not austerity' in Tory leadership pitch
(35 minutes later)
Andrea Leadsom has set out her pitch to be a positive and optimistic Conservative prime minister, promising to the goal would be “prosperity, not austerity”. Andrea Leadsom has set out her pitch to be a positive and optimistic Conservative prime minister, promising her goal would be “prosperity, not austerity”.
In a speech in Westminster, the former Treasury minister and leading pro-Brexit candidate appeared to undermine the economic strategy that George Osborne has pursued for six years.
“I’m an optimist. I truly believe we can be the greatest nation on earth. As we show the UK is once again open to the world and united in our new destiny, so we will expand our horizons,” she said.
Related: Tory leadership battle: Andrea Leadsom says 'let's banish pessimists' – liveRelated: Tory leadership battle: Andrea Leadsom says 'let's banish pessimists' – live
In a speech in Westminster, Leadsom, the leading pro-Brexit candidate, appeared to ditch the economic strategy of her former boss George Osborne and sought to reassure the financial markets that Britain could cope with leaving the EU. The audience cheered as she said: “Prosperity should be our goal, not austerity. I want to spread prosperity to every corner of our country. I want to help create more jobs, because we need to hear and heed millions of our fellow citizens who feel and fear our country’s leaders are not worrying about them enough.”
She said the lower pound would be good for exports and claimed the stock market had already recovered. Echoing Boris Johnson and the Vote Leave campaign, she said she wanted to listen to those who did not like bosses of big businesses getting “telephone number salaries” and instead create “higher pay for the many”.
To cheers from supporters, Leadsom said she wanted to “banish the pessimists” in a speech that blended patriotism with aspirational values. “I am with you and I want you to share in the great future for this country,” she said. “I want to lead a nation where anyone who aims high can achieve their dreams. My first task is to show how great our nation is.”
“Together we will write another great chapter of prosperity and tolerance and hope,” she said. To wild applause from Conservative activist supporters, Leadsom said she wanted to “banish the pessimists” in a speech that blended patriotism with aspirational values.
Leadsom did not take questions after the short speech as she rushed out to a waiting car. But a group of her supporters marched from Millbank to parliament, some chanting: “What do we want? Leadsom. When do we want it? Now.” It was billed as a major intervention on the economy but the 12-minute speech contained no policy proposals or specific plans about how she would achieve her aims.
Conservative MPs are voting on Thursday to narrow the field of contenders from three to two. Party members will have the final say in a ballot that will decide who is the next prime minister. Theresa May was well in front of her rivals in the first ballot of MPs. Michael Gove and Leadsom are fighting it out for the second slot alongside her. Addressing concerns about the economic consequences of Brexit, she said the lower pound would be good for exports and claimed the stock market had already recovered. Leadsom also sought to reassure the financial markets that Britain could cope with leaving the EU. The FTSE 100 index has recovered losses following the Brexit vote but the FTSE 250, which includes smaller firms, is nearly 10% down on the day of the vote.
Leadsom attempted to silence doubts about her experience by publishing her CV but it backfired on Wednesday with critics raising questions about fresh inconsistencies in her 25-year finance career. Related: Sterling hits new 31-year low against the dollar
“No one needs to fear our decision to leave the EU,” she said. “Trade must be the top priority, continued tariff-free trade with the EU, continued free trade with those countries we have agreements with as a current member of the EU, and vitally seeing the opportunities to take up free trade agreements with fast growing economies round the world.”
She said the UK was “open for business and a great place to employ people” and believed Britain has “a great future ahead of us”.
In a clear dividing line with the frontrunner, Theresa May, Leadsom promised that all EU citizens currently in the country were welcome to stay.
She did not take questions after the speech as she rushed out to a waiting car. But a group of her supporters marched from Millbank to parliament, some chanting: “What do we want? Leadsom for leader. When do we want it? Now.”
One of her backers, Steve Baker, who chairs the Conservatives for Britain group of leave MPs, said he still believed in reducing the deficit but the exact policy would be a matter for Leadsom as prime minister.
“This is a time to focus on how Britain as an open trading nation can look outwards to the whole world to make sure this country is absolutely as prosperous as it can be,” he said. “I am personally committed to balancing the books. The way that will be done is a matter for Andrea and her cabinet and the next government.”
Conservative MPs are voting on Thursday to narrow the field of contenders to a shortlist of two, which will then be put to a vote of party members.
May, the home secretary, was well in front of her rivals in the first ballot of MPs, with the support of more than half of the parliamentary party. Michael Gove and Leadsom are fighting it out for the second slot.
As MPs cast their ballot, Leadsom’s allies were concerned that supporters of Gove and May might collude to exclude her from the shortlist.
An ally of Gove, Nick Boles, had to apologise on Wednesday after sending messages to other MPs asking them to help block the “frightening” risk of Leadsom making the final list.
At the same time, Leadsom has been under pressure over doubts about her City experience, which she attempted to silence by publishing her CV. However, it backfired on Wednesday with critics raising questions about fresh inconsistencies in her 25-year finance career.
Leadsom later told the BBC that she stood by her CV and did not regret anything about how she has presented her experience before parliament. She also promised to publish her tax return if she gets on the ballot, saying it was “boring”, after failing to do so alongside her rivals Gove and May earlier this week.
Heather Wheeler, another MP on the rally for Leadsom, said: “I’m really proud of the uplifting speech Andrea gave this morning, there is no reason for anyone to be be pessimistic. I don’t accept that at all [that the speech contained no policies]. I was there, I heard several different policies that she had.
“She has a long history of working in international finance markets, I’m completely confident in her backstory, and that she has what it takes to be a great leader. She’s not part of the Westminster bubble, she’s a Midlands MP. She’s absolutely right that people need to stop talking down the country.”