Foreign Secretary Liz Truss Liz Truss has launched her UK Prime Minister’s bid by promising to cut tax from “day one” in office, declaring that it is time to get back to Conservative values, The Telegraph reported.

In an article for The Telegraph announcing her candidacy, the Foreign Secretary signaled that she will cut corporation tax, reverse the National Insurance rise and overhaul business rates.

“I will fight the election as a Conservative and govern as a Conservative,” Truss said,

She added: “Under my leadership, I would start cutting taxes from day one to take immediate action to help people deal with the cost of living.”

On Monday, a new 1922 Committee executive will agree the rules for how to whittle down candidates to a final two, with nominations needed by Tuesday.

Truss’ article contains her first public comments on a leadership bid since rushing back from a G20 summit in Indonesia, after Boris Johnson resigned last Thursday.

She wrote: “It isn’t right to be putting up taxes now. I would reverse the National Insurance increase that came in during April, make sure we keep corporation tax competitive so we can attract business and investment into Britain, and put the Covid debt on a longer-term footing.

“I will get the private sector growing faster than the public sector, with a long-term plan to bring down the size of the state and the tax burden.”

In her leadership pitch, Truss also tried to position herself as the candidate best placed to win over both Blue Wall Tory heartlands and Red Wall former Labour seats.

She wrote: “People want to be free to get on, live and thrive. They do not want the Government trying to run their lives or spend more of their money than is necessary. I have been standing up for core Conservative principles throughout my career.”