The next prime minister will be either Rishi Sunak or Liz Truss, with Conservative Party members preparing to vote by the beginning of September.
According to the most recent polls, foreign secretary Truss is the party favourite, despite Sunak winning the support of more MPs.
Truss has pledged to reverse the tax rises instigated by Sunak when he was chancellor, notably the planned increase in corporation tax and the rise in national insurance. She has said she wants to see more high-rise developments in cities and allow villages to incrementally expand. But she said she opposes “massive” housebuilding targets.
Truss has also promised to create “low-tax zones” across Northern England with low business rates and few planning restrictions.
Sunak has refused to commit to tax cuts until inflation is brought under control. He has also said it is possible to build more houses in cities, saying they are less densely populated than in other comparable countries. The former chancellor has committed to keeping a cabinet minister for levelling up and pledged to devolve powers on business rates to mayors.
Both have committed to keep the target of the UK being net zero by 2050, but neither has put climate at the heart of their campaign.
Michael Gove, the former levelling-up secretary, is tipped for a potential cabinet role if Sunak wins, but he has yet to endorse either of the final candidates.
