SO HOW DO THEIR POLICIES COMPARE?

LIZ TRUSS’S PLANS

Proposal: Cancel corporation tax rise

Outcome: She plans to keep tax on large company profits at 19 per cent next year, cancelling the increase to 25 per cent. Experts believe the headline cost will be lower as investment will be boosted

Cost: Up to £17.2billion per year by 2025

Proposal: Scrap national insurance contributions hike Outcome: The 1.25 percentage point increase was to help the NHS and reform social care Cost: £13billion per year Proposal: One-year moratorium to green energy levy Outcome: The average household will save £153 for one year by ditching the tax added to energy bills to fund green investments

Cost: £4.2billion

Proposal: Defence spending 3 per cent of GDP Outcome: She has promised to increase the defence budget from 2.1 per cent of GDP to 3 per cent by 2030 Cost: £23billion a year by 2030

AND RISHI SUNAK’S

Proposal: His previous budget and spring statement announcements

Outcome: These included the corporation tax rise for large businesses and the new health and social care levy

Cost: These tax hikes will raise £30.3billion per year Proposal: Cut basic rate of income tax from 20p to 19p in 2024/2025

Outcome: A worker on a salary of £25,000 would save £124 per year. This is also a policy backed by Miss Truss

Cost: £5billion per year Proposal: Grants to ease the cost of living

Outcome: Series of cash grants, including a council tax rebate Cost: One-off £25billion cost

Proposal: Freeze income tax thresholds

Outcome: This stealth tax rise, announced last year, means workers are forced into higher tax brackets as their wages rise. This is backed by Miss Truss Cost: £8.1billion a year by 2025