Sunak will vow to tackle inflation and then lower taxes if he becomes PM

Rishi Sunak will promise ‘a return to traditional Conservative economic values – and that means honesty and responsibility, not fairytales’. Photograph: Hollie Adams/Getty Images

Rishi Sunak will kick off his leadership campaign on Tuesday with a promise to grip inflation and lower taxes, as speculation mounted over which candidates could swing in behind the former chancellor.

Sunak will promise “a return to traditional Conservative economic values – and that means honesty and responsibility, not fairytales.”