Tory leadership contest hangs on gamble over the economy

Liz Truss’s dismissal of Bank of England warnings revives memories of Brexit attacks on ‘experts’, writes Andrew Woodcock

Liz Truss or Rishi Sunak face the prospect of leading a country entering recession (Getty)

The factors that will determine Tory members’ choice of the UK’s next prime minister are various – with perceived competence, likeability, passion for Brexit, readiness to bash “woke” opinion, and ability to beat Labour at the next election all among them.

But at the heart of the contest between Liz Truss and Rishi Sunak is a single factor that will potentially have massive consequences for the country – a fundamental split on the economic response to the cost of living crisis.

As has been well-rehearsed in a succession of TV debates and hustings, Truss believes that the answer to the difficulties Britons are facing in paying for essentials is to put a bit more money in their pockets through tax cuts.