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Rishi Sunak is set to battle it out with Sir Keir Starmer over the economy after a bruising day for the Conservative leader which saw two senior party figures quit as MPs.

Michael Gove and Andrea Leadsom both announced on Friday they would not stand in the 4 July general election, bringing the total number of sitting Tories quitting to 78.

This beats the previous record of 72 MPs stepping down before Tony Blair‘s landslide in the 1997 election.

General election latest: Reaction as Gove and Leadsom standing down

Chancellor Jeremy Hunt and shadow chancellor Rachel Reeves feature in Saturday’s editions of The Daily Telegraph and Daily Mail respectively touting their economic promises if their party wins the election.

Mr Hunt hinted at tax breaks for high earners and branded inheritance tax as “profoundly anti-Conservative”.

Meanwhile, Ms Reeves vowed to deliver financial stability with a Thatcher-style commitment to “sound money”.

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She will meet with supermarket workers in London later to talk about the cost-of-living crisis, seeking to attack the Conservative record on the economy as she pitches Labour as the party of “stability and tough spending”.

Their comments come as Mr Gove quit his almost two-decade career in politics, saying it was time to let “a new generation lead”.

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PM admits to ‘difficult days’

He was quickly followed by Ms Leadsom who unsuccessfully stood against Theresa May to lead the Conservatives after the Brexit referendum.

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In her resignation letter, Ms Leadsom said it had been “the greatest honour to serve the people of South Northamptonshire as their MP for the last 14 years”.

Ms Leadsom, who is currently a junior health minister, was business secretary under Mrs May.

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MP Zarah Sultana who was ousted from Labour announces she is starting new political party with Jeremy Corbyn

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MP Zarah Sultana who was ousted from Labour announces she is starting new political party with Jeremy Corbyn

An MP who was ousted from the Labour Party has announced she is setting up a new political party with Jeremy Corbyn.

Independent MP Zarah Sultana said she and the former Labour leader will co-lead the new party, which she did not provide a name for.

She said other independent MPs, campaigners and activists from across the country will join them, but did not name anyone.

Politics latest: Zarah Sultana’s stinging resignation letter

Ms Sultana also said she was “resigning” from the Labour Party after 14 years.

She was suspended as a Labour MP shortly after they came to power last summer for voting against the government maintaining the two-child benefit cap.

Several others from the left of the party, including Mr Corbyn, were also suspended for voting against the government, and also remained as independent MPs.

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However, Ms Sultana was still a member of the Labour Party – until now.

Zarah Sultana

Mr Corbyn has previously said the independent MPs who were suspended from Labour would “come together” to provide an “alternative.

The other four are: Iqbal Mohamed, Shockat Adam, Ayoub Khan and Adnan Hussain.

Mr Corbyn and the other four independents have not said if they are part of the new party Ms Sultana announced.

In her announcement, Ms Sultana said she would vote to abolish the two-child benefit cap again and also voted against scrapping the winter fuel payment for most pensioners.

Ms Sultana also voted against the government’s welfare bill this week, which was heavily watered down as Sir Keir Starmer tried to prevent a major rebellion from his own MPs.

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Protesters block Israeli arms manufacturer in Bristol

On Wednesday, Ms Sultana spoke passionately against Palestine Action being proscribed as a terror organisation – but MPs eventually voted for it to be.

She said to proscribe it is “a deliberate distortion of the law to chill dissent, criminalise solidarity and suppress the truth”.

Ms Sultana said they were founding the new party because “Westminster is broken but the real crisis is deeper – just 50 families now own more wealth than half the UK population”.

She called Reform leader Nigel Farage “a billionaire-backed grifter” leading the polls “because Labour has completely failed to improve people’s lives.

Reform leader Nigel Farage attending day three of Royal Ascot.
Pic: PA
Image:
Ms Sultana called Nigel Farage a ‘billionaire-backed grifter’. Pic: PA

The MP, who has spoken passionately about Gaza, added: “Across the political establishment, from Farage to Starmer, they smear people of conscience trying to stop a genocide in Gaza as terrorists.

“But the truth is clear: this government is an active participant in genocide. And the British people oppose it.

“We are not going to take this anymore.”

A Labour Party spokesperson said: “In just 12 months, this Labour government has boosted wages, delivered an extra four million NHS appointments, opened 750 free breakfast clubs, secured three trade deals and four interest rate cuts lowering mortgage payments for millions.

“Only Labour can deliver the change needed to renew Britain.”

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Tornado Cash co-founder keeps testimony plans unclear ahead of trial

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Tornado Cash co-founder keeps testimony plans unclear ahead of trial

Tornado Cash co-founder keeps testimony plans unclear ahead of trial

Roman Storm is scheduled to appear in a New York courtroom for his criminal trial on July 14, facing money laundering and conspiracy charges.

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US Senator Cynthia Lummis drafts standalone crypto tax bill

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US Senator Cynthia Lummis drafts standalone crypto tax bill

US Senator Cynthia Lummis drafts standalone crypto tax bill

The Wyoming Senator seeks to end double taxation and add clarity to the tax treatment of crypto staking, mining, and lending transactions.

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