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| Hammond warns Tory candidates over tax cut pledges | Hammond warns Tory candidates over tax cut pledges |
| (2 days later) | |
| The chancellor, Philip Hammond, will tell Tory leadership hopefuls that they cannot hope to rebuild the party simply by cutting taxes and slashing red tape. He will also warn against “reckless” solutions offered by “populists” and defend government intervention on issues such as the national living wage. | The chancellor, Philip Hammond, will tell Tory leadership hopefuls that they cannot hope to rebuild the party simply by cutting taxes and slashing red tape. He will also warn against “reckless” solutions offered by “populists” and defend government intervention on issues such as the national living wage. |
| Hammond will argue that a “regulated market model” rather than total liberalisation is the best way to raise living standards. | Hammond will argue that a “regulated market model” rather than total liberalisation is the best way to raise living standards. |
| With Philip Hammond's departure likely, an uphill battle awaits his successor | Larry Elliott | With Philip Hammond's departure likely, an uphill battle awaits his successor | Larry Elliott |
| Leadership contenders are already setting out plans to cut taxes in an effort to appeal to the grassroots Tory members who will decide on the next occupant of No 10. | Leadership contenders are already setting out plans to cut taxes in an effort to appeal to the grassroots Tory members who will decide on the next occupant of No 10. |
| Dominic Raab has pledged to cut income tax by a penny a year – 5p over the course of a parliament, to just 15p in the pound for the basic rate – which critics have claimed would cost £25bn. The foreign secretary, Jeremy Hunt, has also adopted a tax-cutting approach, although in his case he suggested slashing corporation tax to Irish levels of 12.5%. | Dominic Raab has pledged to cut income tax by a penny a year – 5p over the course of a parliament, to just 15p in the pound for the basic rate – which critics have claimed would cost £25bn. The foreign secretary, Jeremy Hunt, has also adopted a tax-cutting approach, although in his case he suggested slashing corporation tax to Irish levels of 12.5%. |
| A source said Hammond’s speech would be a “rebuke to those who call for total liberalisation of the market” and a warning against “those who seek to renew the Conservative party by relying on tax cuts and deregulation only”. He would be making the point that “letting rip the forces of the free market doesn’t always work for all”, the source said. | A source said Hammond’s speech would be a “rebuke to those who call for total liberalisation of the market” and a warning against “those who seek to renew the Conservative party by relying on tax cuts and deregulation only”. He would be making the point that “letting rip the forces of the free market doesn’t always work for all”, the source said. |
| The former deputy chair of the party and an under-secretary in DExEU, Cleverly has only been in parliament since 2015. The MP for Braintree announced his candidacy to his local paper saying the Conservatives needed to “look new and sound different”. | The former deputy chair of the party and an under-secretary in DExEU, Cleverly has only been in parliament since 2015. The MP for Braintree announced his candidacy to his local paper saying the Conservatives needed to “look new and sound different”. |
| The environment secretary is to pitch himself as a “unity candidate” capable of attracting leavers and remainers, as he formally declared his candidacy saying: “I believe that I’m ready to unite the Conservative and Unionist party, ready to deliver Brexit and ready to lead this great country.” But robust Brexiters in particular dislike the fact that he stayed loyal even in the final days of the crumbling May regime. | The environment secretary is to pitch himself as a “unity candidate” capable of attracting leavers and remainers, as he formally declared his candidacy saying: “I believe that I’m ready to unite the Conservative and Unionist party, ready to deliver Brexit and ready to lead this great country.” But robust Brexiters in particular dislike the fact that he stayed loyal even in the final days of the crumbling May regime. |
| The former universities minister is calling for a 'final say on the Brexit deal' as the only way to break the parliamentary deadlock. Gyimah is the only candidate offering a second referendum on Brexit, saying 'There is a wide range of candidates out there but there is a very narrow set of views on Brexit being discussed'. | |
| The health secretary remains a relative outsider, but the longer the race goes on, the more he gains ground for the seemingly basic virtues of being apparently competent and broadly similar to a normal human being, albeit a particularly energetic one. A concerted effort would probably require an image consultant. | The health secretary remains a relative outsider, but the longer the race goes on, the more he gains ground for the seemingly basic virtues of being apparently competent and broadly similar to a normal human being, albeit a particularly energetic one. A concerted effort would probably require an image consultant. |
| The former immigration minister and chief whip was behind the controversial 'go-home' vans when working under Theresa May at the Home Office. He resigned as immigration minister in 2014after it emerged he was employing a cleaner who did not have permission to work in the UK. He later served as David Cameron’s chief whip. But he has not served in Theresa May’s government and has, therefore, sought to cast himself as the candidate who offers 'fresh thinking. | The former immigration minister and chief whip was behind the controversial 'go-home' vans when working under Theresa May at the Home Office. He resigned as immigration minister in 2014after it emerged he was employing a cleaner who did not have permission to work in the UK. He later served as David Cameron’s chief whip. But he has not served in Theresa May’s government and has, therefore, sought to cast himself as the candidate who offers 'fresh thinking. |
| Fears that the foreign secretary would be another overly woolly compromise choice were hardly assuaged when after a set-piece speech he seemed unable to outline why his brand of Conservatism might appeal to voters. | Fears that the foreign secretary would be another overly woolly compromise choice were hardly assuaged when after a set-piece speech he seemed unable to outline why his brand of Conservatism might appeal to voters. |
| The home secretary still has the same weaknesses: he is an uninspiring speaker and some worry he is too fond of headline-grabbing, illiberal political gestures. But he is almost as ubiquitous as Liz Truss, and clearly believes this is his time. | The home secretary still has the same weaknesses: he is an uninspiring speaker and some worry he is too fond of headline-grabbing, illiberal political gestures. But he is almost as ubiquitous as Liz Truss, and clearly believes this is his time. |
| The out-and-out favourite, so popular with the Tory grassroots that it would be hard for MPs to not make Johnson one of the final two. He has been relatively quiet recently, beyond his regular Telegraph column, but this is very deliberate. | The out-and-out favourite, so popular with the Tory grassroots that it would be hard for MPs to not make Johnson one of the final two. He has been relatively quiet recently, beyond his regular Telegraph column, but this is very deliberate. |
| The former House of Commons leader, who left Theresa May as the last candidate standing when she pulled out of the previous leadership race in 2016, has decided to have another tilt at the top job, saying she has the “experience and confidence” to “lead this country into a brighter future”. But even with her staunch Brexiter tendencies, she would be seen as an outsider. | The former House of Commons leader, who left Theresa May as the last candidate standing when she pulled out of the previous leadership race in 2016, has decided to have another tilt at the top job, saying she has the “experience and confidence” to “lead this country into a brighter future”. But even with her staunch Brexiter tendencies, she would be seen as an outsider. |
| The housing minister is credited as the convener of both Conservative leavers and remainers to develop a compromise on May’s withdrawal agreement. He said there was a “yearning for change”. The 52-year-old is a former deputy mayor of London and entered the Commons in 2015 when David Cameron’s Conservatives won a majority. His name was given to the “Malthouse compromise” – a proposal drawn up by backbenchers from leave and remain wings of the Tory party, which would have implemented May’s Brexit deal with the backstop replaced by alternative arrangements. | The housing minister is credited as the convener of both Conservative leavers and remainers to develop a compromise on May’s withdrawal agreement. He said there was a “yearning for change”. The 52-year-old is a former deputy mayor of London and entered the Commons in 2015 when David Cameron’s Conservatives won a majority. His name was given to the “Malthouse compromise” – a proposal drawn up by backbenchers from leave and remain wings of the Tory party, which would have implemented May’s Brexit deal with the backstop replaced by alternative arrangements. |
| The former work and pensions secretary, who quit last year over May’s Brexit plans, has launched her own in-party campaign group/leadership vehicle called Blue Collar Conservatism, promising to make the party more amenable to voters in deprived communities – mainly through a promise to deliver a strong Brexit and policies such as diverting much of the foreign aid budget to schools and police. | The former work and pensions secretary, who quit last year over May’s Brexit plans, has launched her own in-party campaign group/leadership vehicle called Blue Collar Conservatism, promising to make the party more amenable to voters in deprived communities – mainly through a promise to deliver a strong Brexit and policies such as diverting much of the foreign aid budget to schools and police. |
| Few things say “would-be leader in waiting” like a kitchen photoshoot with your spouse, and the former Brexit secretary duly obliged with this imageawash with tasteful pastel hues. He formally launched his bid in the Mail on Sunday. Among the more core constituency of Conservative MPs, Raab has been pushing hard, as has his semi-official “Ready for Raab” Twitter feed. | Few things say “would-be leader in waiting” like a kitchen photoshoot with your spouse, and the former Brexit secretary duly obliged with this imageawash with tasteful pastel hues. He formally launched his bid in the Mail on Sunday. Among the more core constituency of Conservative MPs, Raab has been pushing hard, as has his semi-official “Ready for Raab” Twitter feed. |
| The cabinet’s most recent arrival – Mordaunt’s promotion to defence led to Stewart becoming international development secretary – certainly has the necessary ambition and self-belief, plus a privileged if unorthodox backstory covering Eton, Oxford, a senior role in postwar Iraq and a bestselling book about walking across Afghanistan. He remains an outsider, not least because of his remain tendencies and slightly 2010 view of compassionate Conservatism. | The cabinet’s most recent arrival – Mordaunt’s promotion to defence led to Stewart becoming international development secretary – certainly has the necessary ambition and self-belief, plus a privileged if unorthodox backstory covering Eton, Oxford, a senior role in postwar Iraq and a bestselling book about walking across Afghanistan. He remains an outsider, not least because of his remain tendencies and slightly 2010 view of compassionate Conservatism. |
| Sir Graham Brady, Penny Mordaunt and James Brokenshire are yet to declare their intentions. Liz Truss and Amber Rudd have ruled themselves out. | Sir Graham Brady, Penny Mordaunt and James Brokenshire are yet to declare their intentions. Liz Truss and Amber Rudd have ruled themselves out. |
| Among other senior figures not expected to run are Brandon Lewis, Chris Grayling and Philip Hammond. Gavin Williamson’s recent sacking after the Huawei leak inquiry will also surely rule him out as an option this time around. | Among other senior figures not expected to run are Brandon Lewis, Chris Grayling and Philip Hammond. Gavin Williamson’s recent sacking after the Huawei leak inquiry will also surely rule him out as an option this time around. |
| Hammond will be speaking in London on Thursday at the launch of a report by living standards thinktank the Resolution Foundation on the impact of the higher minimum wage. | Hammond will be speaking in London on Thursday at the launch of a report by living standards thinktank the Resolution Foundation on the impact of the higher minimum wage. |
| He will say: “The truth is, we have seen a gap open up – in Britain and in other developed countries – between the theory of how a market economy and free trade creates and distributes wealth, and the reality experienced by many ordinary people. | He will say: “The truth is, we have seen a gap open up – in Britain and in other developed countries – between the theory of how a market economy and free trade creates and distributes wealth, and the reality experienced by many ordinary people. |
| “But that doesn’t mean we should abandon our economic model. Of course, we can’t ignore people’s concerns either – otherwise the reckless solutions of the populists will flood in to fill the vacuum. | “But that doesn’t mean we should abandon our economic model. Of course, we can’t ignore people’s concerns either – otherwise the reckless solutions of the populists will flood in to fill the vacuum. |
| “So for those, like me, who believe passionately that harnessing the power of market economics is the only way to deliver progress … it is imperative that we take decisive action to show that the regulated market model can deliver higher wages and higher living standards.” | “So for those, like me, who believe passionately that harnessing the power of market economics is the only way to deliver progress … it is imperative that we take decisive action to show that the regulated market model can deliver higher wages and higher living standards.” |
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