Rishi Sunak v Liz Truss: all you need to know about PM contenders

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Rishi Sunak, 42

Education Winchester College. Philosophy, politics and economics at Oxford university. MBA from Stanford.

FamilyMarried Akshata Murty, daughter of the Indian billionaire NR Narayana Murthy, in 2009. They have two daughters.

Before governmentAnalyst at Investment bank Goldman Sachs. Partner at hedge fund management firm the Children’s Investment Fund Management.

ConstituencyRichmond (Yorkshire), elected in 2015

In governmentJunior minister for local government (2018-19), chief secretary to the Treasury (2019-20), chancellor of the exchequer (2020-22).

Career highWinning praise for rapidly introducing “furlough” support schemes worth billions of pounds to preserve jobs and businesses during 18 months of Covid lockdowns.

Achilles heelHis family’s wealth and his wife’s controversial non-dom status.

GaffesSaid that food where he would most notice a price rise was bread, because “we have all different breads in my house”.

What others say

– Anonymous economist

– Tim Shipman of the Sunday Times

Little-known factA self-described “coke addict” – of the Mexican version of Coca Cola, which is made from cane sugar.

Campaign to be prime minister

Key backersDominic Raab, Jeremy Hunt, Norman Lamont.

Attack lines on rivalAccused Liz Truss of promoting “socialism” by promising unfunded tax cuts and described plans to “borrow your way out of inflation” as “a fairytale”.

On the economyPromises “a return to traditional Conservative economic values”, a position seen variously as a pitch to instinctive Tory fiscal prudence, or a desire to return to “austerity economics”. Differs from Truss on tax cuts, saying acting now would stoke inflation and increase borrowing.

On home affairsSupports Rwanda removal scheme, though No 10 sources have briefed that he opposed it as chancellor. Promises a “crackdown on grooming gangs”, has pledged to create a requirement for all police forces to have a ringfenced child sexual exploitation team.

On the environmentWould set a new legal target for the UK to be energy independent by 2045 at the latest. Committed to maintaining government’s legally binding goal of reaching net zero emissions by 2050 and has assured Tories green wing he would protect environment.

Liz Truss, 46

EducationRoundhay secondary school in Leeds. Philosophy, politics and economics at Oxford University.

FamilyMarried to accountant Hugh O’Leary since 2000. They have two daughters.

Before governmentWorked as an accountant for Shell and Cable & Wireless. Deputy director of the right-of-centre Reform thinktank.

ConstituencySouth West Norfolk, elected 2010.

In governmentJunior education minister (2012-14), environment minister (2014-16), lord chancellor (2016-17), chief secretary to the treasury (2017-19), international trade minister (2019-21), equalities minister (2019-present), foreign secretary (2021-present)

Career highElevation to foreign secretary, placing her at the forefront of Britain’s global push to support Ukraine. Oversaw moves to secure release of Nazanin Zaghari-Ratcliffe and Anoosheh Ashoori from Iran.

Achilles heelBackground as a one-time Liberal Democrat who called for the abolition of the monarchy, and a Remainer who opposed Brexit.

GaffesGetting lost while trying to leave her press conference setting out her leadership stall. Told parliament: “In any trade deal we strike we will be taking into account our high standards to make sure our farmers are undermined.”

Little known factThe daughter of a parents she described as “to the left of Labour”, her “horrified” father discovered she had joined the Conservatives by picking up a postcard at the family home reading: “I can’t believe you’ve become a Tory, Liz.”

What others say

– Some Tory MPs, according to the Spectator

– Nadine Dorries denying that a moniker for Truss among civil servants is because she causes chaos

Campaign to be prime minister

Key backersNadine Dorries, Jacob Rees-Mogg, perhaps Boris Johnson, the Daily Mail.

Attack linesTold Sunak in a debate that he had raised taxes to the highest level in 70 years, adding: “That is not going to raise economic growth.” Accused him of raising national insurance in the face of opposition from her and others at cabinet.

On the economyWould reverse the national insurance rate rise, designed to fund health and social care. Wants to continue the Johnsonian levelling-up agenda, but based around low tax and low regulation zones. Told the Spectator she would treat borrowing built up during the pandemic like a war debt to be written off over a long period.

On culture warsJoined former leadership contender Kemi Badenoch in attacking Penny Mordaunt, telling a debate she had opposed moving ahead with self-identification for trans people

On home affairsHas reportedly said she would attempt to expand the Rwanda migrant removal scheme to countries such as Turkey.

On the environmentCommitted to maintaining the government’s legally binding goal of reaching net zero emissions by 2050, but would suspend green energy levies.