"We need a return to traditional Conservative economic values - and that means honesty and responsibility, not fairy tales," Sunak is expected to say at the launch of his campaign, according to his team, a jibe at rivals who have promised immediate large cuts to business or personal taxes.
According to his team, Sunak will promise to cut taxes once inflation, which hit a 40-year high of 9.1% in May, had been brought under control.
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