Economy eclipses other issues in UK Conservative contest

Economy eclipses other issues in UK Conservative contest

Summary :

Sunak says he would get inflation under control before trimming taxes, although, facing pressure from polls showing Truss is ahead in the race, he has pledged to scrap the sales tax on domestic energy bills for a year.

The Institute for Fiscal Studies, an independent think-tank, notes that “the candidates have been less forthcoming about their intentions for public spending.” Truss says she will remove a “green levy” on energy bills that is used to fund renewable energy projects, something critics say will slow progress toward net zero. Britain has given Ukraine 4 billion pounds ($5 billion) in military and humanitarian aid to help it fight Russia’s invasion and is training Ukrainian troops on U.K. soil.

Sunak and Truss promise there will be no lessening of Britain’s support if they take over, and both say they will keep defense spending above the 2% of GDP recommended by NATO.