Truss vows to hold emergency tax-cut budget as she takes narrow lead over Sunak

Liz Truss has vowed to bring in an emergency budget to axe the national insurance rise

It comes as Ms Truss has overtaken Rishi Sunak as the frontrunner by bookmakers, with early indications suggesting she is more popular with Tory members ahead of a summer of campaigning.

In her pitch in the Daily Mail, Ms Truss vowed to "hit the ground running by immediately cutting taxes, growing our economy and unleashing the potential of everyone". "We have been going in the wrong direction on tax, with the tax burden at its highest in 70 years," she wrote.

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