Former chancellor Sajid Javid has endorsed Liz Truss as he warned Rishi Sunak’s financial plans would lead Britain “sleepwalking into a high-tax, low-growth” financial system.
Mr Javid and Mr Sunak stop inside an hour of one another final month, triggering a string of resignations that finall introduced Boris Johnson’s time as prime minister to and finish.
But writing within the Times, Mr Javid criticises his buddy’s stance as he backs his rival to win the keys to Downing Street.
Mr Sunak has argued that tax cuts can come after soaraway inflation has been introduced underneath management.
Mr Javid, himself a former Tory management candidate, insisted that “tax cuts now are essential”.
He mentioned: “Over the long term we are more likely to be fiscally sustainable by improving trend growth.
“Only by getting growth back to pre-financial crisis levels can we hope to support the high-quality public services people rightly expect. Some claim that tax cuts can only come once we have growth.
“I believe the exact opposite – tax cuts are a prerequisite for growth. Of course we need more than that, especially significant supply side reform, but tax cuts now are essential. There are no risk-free options in government. However, in my view, not cutting taxes carries an even greater risk.”
