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You can find the current article at its original source at https://www.theguardian.com/politics/2019/may/29/hammond-warns-tory-candidates-against-reckless-solutions
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| Hammond warns Tory candidates over tax cut pledges | Hammond warns Tory candidates over tax cut pledges |
| (about 16 hours 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 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. |
| He received 37 votes in the first round, coming third. | He received 37 votes in the first round, coming third. |
| 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. Hunt has been backed by Liam Fox. | 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. Hunt has been backed by Liam Fox. |
| He received 43 votes in the first round, placing him second. | He received 43 votes in the first round, placing him second. |
| 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. |
| He received 23 votes in the first round. | He received 23 votes in the first round. |
| 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. |
| Johnson won the first round with 114 votes. | Johnson won the first round with 114 votes. |
| 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. |
| Raab got 27 votes in the first round. | Raab got 27 votes in the first round. |
| 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. |
| Stewart got 19 votes in the first round. | Stewart got 19 votes in the first round. |
| 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.” |
| Philip Hammond | Philip Hammond |
| Conservative leadership | Conservative leadership |
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| Tax and spending | Tax and spending |
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