Boris Johnson has pledged to cut income tax bills for people earning more than £50,000 a year if he wins the race to succeed Theresa May as prime minister. The former foreign secretary told the Telegraph he would use money currently set aside for a no-deal Brexit to raise the 40% tax rate threshold to £80,000.
Labour's shadow chancellor John McDonnell said the proposal showed "how out of touch the Tories are". Tory MPs have until 17:00 BST to enter the race to become party leader and PM.
Mr Johnson's promise comes as Work and Pensions Secretary Amber Rudd and Defence Secretary Penny Mordaunt both announce they are backing Foreign Secretary Jeremy Hunt for prime minister. Mrs May officially stepped down as the leader of the Conservative Party last week, but will remain as prime minister until her successor is chosen.
Conservative MPs who want to replace her must have the backing of eight other party colleagues to officially enter the contest. But Michael Gove, one of 11 to have said they plan to run, has faced calls to drop out of the race after he admitted using cocaine several times more than 20 years ago.
Former party chairwoman Baroness Warsi said it would be "hypocrisy of the highest order" for Mr Gove to remain in the contest, after an article he wrote in 1999 in which he criticised "middle class professionals" who took drugs was republished.