Liz Truss’ plans for the economy could reportedly lead to a huge black hole in the public finances by the middle of the decade. Inflation, the rising cost of government debt, defense spending and the Foreign Secretary’s planned tax cuts could wipe £60 billion from the Treasury, according to a Financial Times analysis. Mrs Truss is the favorite to replace Boris Johnson as Prime Minister next week after the winner of the Conservative Party leadership contest is announced. During the campaign, Ms Truss pledged to reduce murder and other violent crime by 20 per cent within two years if she entered No 10 Downing Street. But a top police chief today described her law and order plans as “unwise”, “pointless” and “sound friendly”. Chief Constable Richard Lewis, the National Council of Chief Police Officers’ performance chief, told the Guardian Ms Truss’s pledges were “insignificant” without “further explanation”.

Basic points

Truss plans risk ‘£60bn financial black hole’ Foreign Secretary’s law and order pledges are ‘meaningless’ Voting closes in Tory leadership contest

Show latest update 1662195005

UK ‘could be forced to compete with Europe in bid to avoid rationing’ after Russia energy war escalates

Natural gas prices could double, leaving the UK to compete with Europe in a bid to avoid rationing after Russia’s energy war escalated, an expert has warned. Leon Izbicki, a European gas analyst, said prices could jump again now that Moscow has stepped up its proxy fight against the West. Whitehall editor Kate Devlin reports:

UK ‘could have to compete with Europe to avoid curb’ amid Russian energy crisis

Putin was accused of “psychological” warfare

Matt Mathers3 September 2022 09:50 1662194105

ICYMI: Coffee tip for health secretary

Therese Coffey is set to take up the role of health secretary under Liz Truss after meetings with the current permanent secretary, The Independent understands. Two sources said Ms Coffey, a long-time ally of Ms Truss, was a favored candidate for the post as the NHS backlog is seen as a critical issue ahead of the next general election, expected in 2024. Finance editor Anna Isaac has the story:

Coffee tipped for health secretary as Tory MPs warn Truss over cabinet

The trailblazer facing calls for a “big stage” approach. Matt Mathers3 September 2022 09:35 1662192692

UK faces ‘difficult, expensive’ winter, energy boss warns

Angela Knight, former chief executive of Energy UK, told Times Radio: “We’ve had our energy policy wrong for a long, long time. “It’s a really bad shock we had. “We can get through this winter. It’s going to be difficult, it’s going to be expensive, and some help will have to be given to various groups of people and some help to the industry. He added: “At the same time, there is a huge ability to roll back a lot of our strategies and policies and to do that quickly so that we have a little bit more behind that efficiency, and that will be useful not just in the short term. but actually in the medium and long term as well.” Matt Mathers3 September 2022 09:11 1662191405

Manchester mayor: Avanti West Coast rail company in ‘last chance salon’

Mayor of Greater Manchester Andy Burnham has said it is the “last chance” for Avanti West Coast after the rail company’s chief executive announced he is standing down. Phil Whittingham will step down as chief executive from September 15 to “pursue other executive leadership opportunities” amid a long-running dispute over pay, jobs and conditions at the train company that runs routes including the main London to Manchester line. Mr Burnham, a Labor mayor, slammed what he called a “gross management failure” after he was given no plans on how to restore the company’s timetable. “Finally, there seems to be a recognition that a big change is needed,” Mr Burnham told BBC Radio 4’s Today programme. “What this reveals is that the reason given at the beginning of this reduced schedule is clearly not the true story. If you remember that the company pointed the finger at the unions, so did the government. By doing that, I think the government allowed let the company off the hook.” Asked if he was asking the Government to remove the operator from the franchise, Mr Burnham said: “This company is on its last chance because I cannot accept unlimited chaos on this rail line and the loss of these services.” He called for a meeting with the government, instead of “playing politics”. Matt Mathers3 September 2022 08:50 1662190205

Senior Tory MP received donation from Covid testing firm

Tory MP Dr Liam Fox received a £20,000 donation earlier this year from a Covid-19 testing company he allegedly contacted the former health secretary about. According to an email seen by the BBC and legal campaign group the Good Law Project, Dr Fox recommended SureScreen Diagnostics to the then health secretary Matt Hancock in 2020. SureScreen Diagnostics will later be awarded a £500m testing contract by the Department of Health and Social Care. Read the full story here:

Senior Tory MP received donation from Covid testing firm

Dr Fox reportedly recommended SureScreen Diagnostics to then-Health Secretary Matt Hancock in 2020. Matt Mathers3 September 2022 08:30 1662189286

ICYMI: Polling closes in Tory leadership race after long summer of campaigning

Voting has now closed in the Tory leadership race, with either Liz Truss or Rishi Sunak declared the winner on Monday. Voting closed at 5 p.m., ending a long, two-sided contest that has dominated the summer and seen both candidates clash over competing visions for the country.

Voting closes in the Tory leadership race after a long summer of campaigning

Liz Truss and Rishi Sunak both sent final messages to Tory members before the polls closed. Matt Mathers3 September 2022 08:14 1662189204

Foreign Secretary’s law and order pledges are ‘meaningless’

During the campaign, Ms Truss pledged to reduce murder and other violent crime by 20 per cent within two years if she entered No 10 Downing Street. But a top police chief today described her law and order plans as “unwise”, “pointless” and “sound friendly”. Chief Constable Richard Lewis, head of performance for the National Council of Chief Police Officers, told the Guardian Ms Truss’s pledges were “insignificant” without “further explanation”. Matt Mathers3 September 2022 08:13 1662189163

Truss plans risk ‘£60bn financial black hole’

Liz Truss’ plans for the economy could reportedly lead to a huge black hole in the public finances by the middle of the decade. Inflation, the rising cost of government debt, defense spending and the Foreign Secretary’s planned tax cuts could wipe £60 billion from the Treasury, according to a Financial Times analysis. Earlier this week Ms Truss promised she would not introduce new taxes if she became prime minister. Matt Mathers3 September 2022 08:12 1662189032

Good morning and welcome to The Independent’s UK political coverage. Voting in the Tory leadership contest has closed and the winner will be announced on Monday. After that, either Liz Truss, the favorite, or Rishi Sunak will be the next Prime Minister. Matt Mathers3 September 2022 08:10 1662145397

We wrap up our live coverage for today – thanks for reading. Chris Baynes2 September 2022 20:03