22 mins ago16:07 Francesca Edwards

Boris Johnson is away on holiday this week, but that hasn’t stopped the calls from those who wish he to come back to the role as Prime Minister. 

Senior members of the Conservative Party are demanding Boris Johnson be reinstated as Tory Party leader. 

Express.co.uk has learnt that constituency party chairs on the National Convention have written to demand his offer to resign is rejected. 

But what do you think? Vote in our poll.

Do you want Boris Johnson to stay as Prime Minister? (Image: Getty)

40 mins ago15:49 Francesca Edwards

A former Chancellor has suggested Liz Truss’s plan for immediate tax cuts runs “the risk of contributing to the problem”. 

Ken Clarke warned the country if in “total stagflation” and the Government should be “very narrowly, truly” targeting people who are struggling to cope with costs. 

Lord Clarke continued: “I very much hope we don’t see an increase in the number of people destitute in this country.

“We already have too many people in abject poverty and the number is likely to rise, and I think the Government should be looking at things that help the very poorest and the very low-paid, and things like Universal Credit.

“What we don’t want is immediate tax cuts which cheer up the better off and are particularly valuable to the very wealthy.”

58 mins ago15:31 Francesca Edwards

Liz Truss and Rishi Sunak will go head-to-head tonight in the next leadership debate on Sky News at 8 pm. 

Kay Burley will host a live studio audience as the two candidates face questions on the cost of living crisis, Brexit, the war in Ukraine, and now the Bank of England interest rate hike announced on Thursday. 

Liz Truss has claimed victory in the row over tax cuts in a humiliating blow to her rival Rishi Sunak.

Following the Bank of England’s interest rates decision this morning, she said*: 

“Today’s news underlines the need for the bold economic plan that I am advocating.

“We need to take immediate action to deal with the cost of living crisis, grow the economy and deliver as much support to people as possible. As Prime Minister, I’d use an emergency budget to kickstart my plan to get our economy growing and offer immediate help to people struggling with their bills. Through supply side reforms, dealing with burdensome business regulation and cutting taxes, I will get our economy back on track. My tax cuts are necessary, affordable and not inflationary.

“You cannot tax your way to growth. Business as usual will not do. Instead, we need a new approach on the economy, we need to challenge the failing economic orthodoxy and we need to deliver the necessary reform to tackle inflation and achieve sustainable growth.“

Good afternoon I’m Francesca Edwards, I’ll be bringing you all the latest developments on the Tory leadership contest for the next eight hours. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.

Email: francesca.edwards@reachplc.com

Twitter: @FrankieLEdwards

2 hours ago14:30 Tara Fair

The Bank of England hiking interest rates today confirms a Conservative recession, according to the Liberal Democrats.

Responding to the Bank of England predicting a recession in today’s economic update, Liberal Democrat Treasury spokesperson Sarah Olney MP said: “The Conservatives’ recession is on the horizon and millions of people will suffer as a result.

“The British public will never forgive the Conservative party for their disastrous economic policies and tax hikes.

“They have put party over country time and time again, and sadly it is families and pensioners who are paying the price.

“Neither Rishi Sunak or Liz Truss have a credible plan to get us out of the mess they’ve created.

“We must have a general election as soon as the Conservative party contest is over to offer the country the real change it needs.”

‘Bank of England confirms Conservative recession is on the horizon,’ say Liberal Democrats (Image: GETTY)

2 hours ago14:17 Tara Fair

The NHS has been “absent from this leadership campaign” between Rishi Sunak and Liz Truss, former health secretary Jeremy Hunt has said.

He said after energy bills the biggest issue facing the next prime minister “will be a looming winter crisis”.

We spend a similar % of GDP on health as France & Germany, but crucially, both have way more drs per head because we STILL donu2019t have a workforce plan. @CommonsHealth have been warning about this for years now but we have met obfuscation & resistance from @DHSCgovuk.

u2014 Jeremy Hunt (@Jeremy_Hunt) August 4, 2022

2 hours ago14:06 Tara Fair

The Bank of England has hiked interest rates by half a percentage point – the largest increase since 1995.

The rise will increase borrowing costs for millions, including those with tracker rate mortgages.

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3 hours ago13:54 Tara Fair

Good afternoon from London. I’m Tara Fair, I’ll be bringing you all the latest developments on the Tory leadership contest. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.

Email: Tara.fair@reachplc.com

Twitter: @TaraFair_