Battle for Britain’s financial future is on

TO readers heartily sick of the Conservative leadership circus, think yourselves lucky.

The political mayhem in Italy, where citizens must elect their 70th government in almost as many years, makes the Tory contest look a picture of stability.

Yet make no mistake: Severe economic turbulence awaits whoever becomes Britain’s next prime minister. Debt interest payments have hit a record high and monthly government borrowing is at eyewatering levels, fuelled by soaring inflation.

The Mail is attracted to Liz Truss’s plan to bulldoze the Whitehall ‘ blob’ into immediate tax cuts, intending to boost economic growth and ease the spiralling cost of living. But with the nation’s finances creaking so badly, will that be possible?

Rishi Sunak, meanwhile, wants to maintain fiscal responsibility – another traditional Tory value (even though he sprayed public money around like there was no tomorrow while chancellor). That would mean delaying tax cuts which could help painfully squeezed families.

This is why it is so vital to scrutinise the competing visions of the two candidates as they battle for the keys to No 10 – and not just naively swallow their grand promises. The economic future of Britain is at stake.