Rishi Sunak, Liz Truss neck and neck after first TV debate clash
The winner will be elected by an estimated 180,000 Tory members, who are now making up their minds before casting their postal ballots from early next month.
There was no clear winner between former Chancellor Rishi Sunak and Foreign Secretary Liz Truss on Tuesday after the UK's prime ministerial candidates went head-to-head in their first television debate as finalists and clashed fiercely on their economic policies and tax plans.
A snap Opinium poll of who performed best in the BBC debate on Monday night found Sunak just slightly ahead at 39 per cent, compared to Truss at 38 per cent.
However, 47 per cent of Conservative Party voters quizzed thought it was the Foreign Secretary who was the better performer, with 38 per cent preferring Sunak.
Overall, the survey of 1,032 British adults held that voters could not decide between Sunak and Truss, with just one point dividing the pair.
In a reflection of what a general election might throw up, data showed that 41 per cent of Opposition Labour Party voters in the survey thought 42-year-old Sunak did better while 30 per cent preferred Truss.
Of those surveyed, 43 per cent also said the Conservatives should elect Sunak while 41 per cent said they should elect 47-year-old Truss, with 12 per cent either choosing "do not know" or abstaining.
You've promised over 40 billion pounds of unfunded tax cuts? 40 billion pounds more borrowing, said Sunak, repeatedly confronting his opponent on her pledge to cut taxes from day one as a new Prime Minister.
"That is the country's credit card, and it's our children and grandchildren, everyone here's kids will pick up the tab for that. There's nothing Conservative about it," he said.
The former Chancellor insists the UK's tax burden is the result of the unprecedented levels of government spending needed to keep the economy afloat during the COVID pandemic and that getting a grip on inflation is a priority before any tax cuts.
He warned that Truss' tax cut plan would "tip millions of people into misery" and cost the Tories the next general election, expected around 2024.
The Foreign Secretary, meanwhile, insisted that no other country was putting up taxes and accused Sunak of having no plan for growth.
"This Chancellor has raised taxes to the highest rate in 70 years, and we're now predicted a recession. The truth is in the figures," she said.
The debate got heated at several points as the economic policy remained the key dividing line during the fiery programme entitled? Our Next Prime Minister', which also saw the pair grilled on their tough stance on China and even their dress sense after jibes on social media over Sunak's expensive tastes.
Sunak was defiant and said he was "not going to apologise" for his background, adding that his parents had worked hard and saved for him and his siblings to get a good, if expensive, education.
"Such aspirational values are Conservative," he declared, attracting a round of applause from the audience in Stoke-on-Trent in central England.
Truss sought to downplay her camp's jibes at the British Indian ex-minister's choice of attire, saying she did not have "any issue with how expensive anybody else's clothes are" and is "not going to give Rishi fashion advice", adding that she is a "great admirer of his dress sense".
During the more mellow moments of the debate, Sunak said he admired Truss and that they were ultimately on the same team. Asked if he would work in a government headed by her, he answered in the affirmative. Truss also said she would "love" to have Sunak on her team if she becomes Prime Minister.
The pair will continue their intense campaigning up and down the country as they appear at a series of hustings organised by the Conservative Campaign Headquarters.
The winner will be elected by an estimated 180,000 Tory members, who are now making up their minds before casting their postal ballots from early next month. The ballot will close on the evening of September 2 and the winner will be announced on September 5.
UK life sciences sector contributed £17.6bn GVA in 2021 and supports 126,000 high-skilled jobs.
Inward life sciences FDI fell by 58 per cent from £1,897m in 2021 to £795m in 2023.
Experts warn NHS underinvestment and NICE pricing rules are deterring innovation and patient access.
Investment gap
Britain is seeking to attract new pharmaceutical investment as part of its plan to strengthen the life sciences sector, Chancellor Rachel Reeves said during meetings in Washington this week. “We do need to make sure that we are an attractive place for pharmaceuticals, and that includes on pricing, but in return for that, we want to see more investment flow to Britain,” Reeves told reporters.
Recent ABPI report, ‘Creating the conditions for investment and growth’, The UK’s pharmaceutical industry is integral to both the country’s health and growth missions, contributing £17.6 billion in direct gross value added (GVA) annually and supporting 126,000 high-skilled jobs across the nation. It also invests more in research and development (R&D) than any other sector. Yet inward life sciences foreign direct investment (FDI) fell by 58per cent, from £1,897 million in 2021 to £795 million in 2023, while pharmaceutical R&D investment in the UK lagged behind global growth trends, costing an estimated £1.3 billion in lost investment in 2023 alone.
Richard Torbett, ABPI Chief Executive, noted “The UK can lead globally in medicines and vaccines, unlocking billions in R&D investment and improving patient access but only if barriers are removed and innovation rewarded.”
The UK invests just 9% of healthcare spending in medicines, compared with 17% in Spain, and only 37% of new medicines are made fully available for their licensed indications, compared to 90% in Germany.
Expert reviews
Shailesh Solanki, executive editor of Pharmacy Business, pointed that “The government’s own review shows the sector is underfunded by about £2 billion per year. To make transformation a reality, this gap must be closed with clear plans for investment in people, premises and technology.”
The National Institute for Health and Care Excellence (NICE) cost-effectiveness threshold £20,000 to £30,000 per Quality-Adjusted Life Year (QALY) — has remained unchanged for over two decades, delaying or deterring new medicine launches. Raising it is viewed as vital to attracting foreign investment, expanding patient access, and maintaining the UK’s global standing in life sciences.
Guy Oliver, General Manager for Bristol Myers Squibb UK and Ireland, noted that " the current VPAG rate is leaving UK patients behind other countries, forcing cuts to NHS partnerships, clinical trials, and workforce despite government growth ambitions".
Reeves’ push for reform, supported by the ABPI’s Competitiveness Framework, underlines Britain’s intent to stay a leading hub for pharmaceutical innovation while ensuring NHS patients will gain faster access to new treatments.
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