Rishi Sunak Said His Resignation As Chancellor Was Not Disloyal But The Right Thing To Do .

Mr Sunak has announced that if he wins the race to replace Boris Johnson in Number 10, he will cut the basic rate of income tax from 20 per cent to 16 per cent by the end of the next parliament. Allies of his Tory leadership rival, Liz Truss, accused Mr Sunak of making another tax U-turn after the former chancellor began the contest by criticizing candidates for promising cuts. Mr Sunak has been accused of trying to “rebrand” himself as a “tax cutter” despite overseeing a series of tax increases during his time in the Treasury, including increases in National Insurance and corporation tax. The former cabinet minister argued on Monday morning that the UK is in a different position to other countries because it has to fund the NHS. Asked if he could name another country that has raised taxes at a time when families are struggling with the cost of living, Mr Sunak told the BBC’s Radio 4 Today programme: “Well, we are also a country that is dealing with its arrears NHS because we fund our NHS in a different way to all other countries, so we have to recognize that.” Pressed again on the same question, Mr. Sunak shot back and said: “Well, tell me another country that has a public health care system that is funded entirely by tax revenue.” Mr Sunak said “every country will be slightly different in how they deal” with the cost of living crisis. “I don’t think it would be wise to go on an excessive borrowing spree at a time when inflation and interest rates are already on the rise,” he said.