NADHIM Zahawi is set to run for Tory leader on a promise to slash the size of the state to pay for tax cuts – after he dramatically turned on the PM.

He was only appointed Chancellor on Tuesday evening – but yesterday morning he publicly called for Boris to step down.
Minutes later, No 10 said Boris was resigning.

In an exclusive Sun interview, Mr Zahawi said of hard-pressed Brits: “I instinctively want them to keep more of their money.”

He vowed to wage war on government waste and inefficiency to bankroll big tax cuts for Brits.

“Wherever I can make cost savings means I can return more money to Sun readers’ pockets", he said.

He said cutting the cost of government would bring down inflation – running at an eye-watering 9.1 per cent – and free up cash for tax cuts.

Speaking on Wednesday, he said: “If I can do that, I want to very quickly look at how we can take that saving and make sure we are supporting more people to keep more of their earnings, and for more companies to invest and grow in the UK.

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“One tax we can compare globally is Corporation Tax rates, and that influences decision making. 

"It is not the only consideration but it influences decision making, and that long term investment that companies will be making.”

Asked if the 5p fuel duty cut could be increased, he said: “I want to make sure more forecourts actually hand it over to Sun readers at the pumps.

“Nothing is off the table – I will look at every which way we can support hardworking families.”

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He added: “I want to make sure we remain financially disciplined – so whatever I do on taxation I have to make sure I can pay for it and bear down on inflation.”

The interview was given before the PM's authority collapsed, and when Mr Zahawi was considering how to approach his new job in the Exchequer.

He is now eyeing a tilt at the leadership, although he has not formally announced he is running yet.

Yesterday, it was claimed he has been secretly working with close allies of Sir Lynton Crosby on a Tory leadership bid for months.

Mark Fullbrook, a founding partner in Crosby's CT Group who worked on Johnson's leadership campaign and has since set up his own firm, is running the strategy.  He is close pal of Mr Zahawi’s.

Allies of Mr Zahawi, a self-made multi-millionaire, are braced for renewed scrutiny of his finances.

The Independent yesterday alleged his finances had been secretly looked at by the National Crime Agency.

Mr Zahawi’s team said he was never aware of any investigation and does not recognise any of the reports.

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