Nadhim Zahawi declares Tory leadership bid to replace Boris Johnson

Nadhim Zahawi said he will focus on lower taxes and increase defence spending

Nadhim Zahawi said he wants to ‘steady the ship and to stabilise the economy’ (AFP via Getty Images)

Newly-appointed chancellor Nadhim Zahawi has entered the race for the Tory leadership to replace Boris Johnson.

He is the second Cabinet minister to declare their ambition in the space of an hour after transport Grant Shapps said he intended to stand on a platform of improving the economy and tackling the cost of living crisis.

Mr Zahawi, who was brought in to replace Rishi Sunak after he resigned on Tuesday, said his focus will be on lower taxes for for individuals, families and business.

He also pledged to increased defence spending and continue with education reforms that he started in his previous role.

In addition to Mr Zahawi, Mr Shapps, Mr Sunak, and Suella Braverman, Kemi Badenoch and Tom Tugendhat have launched their own bids, with Liz Truss, Penny Mordaunt, Sajid Javid and Jeremy Hunt expected to launch imminent campaigns in th the coming days.

In his bid for leader, Mr Zahawi said: “My aim is a simple one: to provide the opportunities that were afforded to my generation, to all Britons, whoever you are and wherever you come from. To steady the ship and to stabilise the economy.

“Thanks to Brexit, we are now a free nation. Let’s not just talk about the opportunities that follow, let’s take them.

“If a young boy, who came here aged 11 without a word of English, can serve at the highest levels of Her Majesty’s Government and run to be the next prime minister, anything is possible.”

He added that he wants to “focus on letting children be children, protecting them from damaging and inappropriate nonsense being forced on them by radical activists”.

Mr Zahawi was given massive plaudits for the swift roll-out of Covid-19 vaccines in the UK and was quickly promoted to education secretary by Boris Johnson.

He is one of the Cabinet ministers who did not resign last week and was instead promoted to chancellor by Mr Johnson after Mr Sunak stepped down.

However Mr Zahawi’s bid for the leadership comes as The Independent can exclusively reveal that his tax affairs are being investigated by HMRC.

Michelle Donelan, who resigned from the role of education secretary on Thursday - less than 36 hours after accepting it, said she was backing Nadhim Zahawi to be the next Tory leader.

In a tweet, she said: “I’ve worked with Nadhim Zahawi in the Department for Education, and around the cabinet table over the last 10 months. I’m backing him to be our next prime minister because he gets things done and delivers just like he did as Vaccines Minister.”