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Liz Truss has launched her bid to become Conservative Party leader and UK prime minister – the 10th to do so – with a promise to cut taxes, The Independent reports.

The foreign secretary announced her decision to run in the Tory leadership to replace Boris Johnson in an article in The Telegraph.

She wrote: “I will fight the election as a Conservative and govern as a Conservative.”

The senior Cabinet minister, who is widely expected to be a front-runner in the race to become the next PM, said she would reverse a controversial national insurance hike that had been brought in by her leadership rival, former chancellor Rishi Sunak.

She promised to “start cutting taxes from day one” to help with the cost of living crisis that has seen record prices for energy, food, and fuel, amid inflation soaring to 9.1 per cent – its highest rate in 40 years.

In addition to Ms Truss and Mr Sunak, the other Tory MPs that have announced their intention to run are former health secretaries Sajid Javid and Jeremy Hunt, chancellor Nadhim Zahawi, transport secretary Grant Shapps, trade minister Penny Mordaunt, former minister Kemi Badenoch and senior backbencher Tom Tugendhat.