Rishi Sunak has again insisted inflation must be brought under control before the Government can cut taxes - following a bruising clash with Tory leadership contenders Penny Mordaunt and Liz Truss. In a combative performance in the first televised debate of the contest on Friday night, the former chancellor rounded on his rivals saying proposals to raise borrowing to pay for tax cuts were a “fairytale”.
Speaking during a visit to Teesside, where he secured the backing of regional mayor Ben Houchen, Mr Sunak doubled down on his message, saying the priority had to be curbing spiralling prices. “I think the number one economic priority we face as a country is inflation," he said.
“I want to get a grip of inflation because inflation is what makes everybody poorer. If we don’t get a grip of it now it will last longer and that is not a good thing.
