When Ben Wallace withdrew from the Conservative leadership contest in July, he had already built a campaign team and had the support of more than 25 MPs. But tensions in his home life led him to conclude that the pressures of work would have too much of an impact on his family.
But friends say the defense secretary has now become much less categorical about not running, after being approached by colleagues to enter a potential competition.
Wallace, who regularly tops the rankings among Tory party members, is “reconsidering” his position because he believes Rishi Sunak, the favorite to succeed Liz Truss, “cannot unite the party”.
“Most of us are now in favor of a coronation for Ben. He’s the best we have,” a plotter told the Sunday Mirror.
“But he may need some persuasion to take the job. And getting Rishi back would calm the bond markets and strengthen the pound.”
Wallace’s potential change of heart comes as leaders of mutinous backbenchers told The Mail on Sunday that more than 100 Tory MPs are ready to table Sir Graham Brady, chairman of the 1922 committee, a vote of no confidence against Mrs Truss.
Sir Graham is under pressure to change the rule that will prevent a leader from being challenged – or at risk of being impeached as chairman – for a year after his election.
The rebels, led by former ministers Gavin Williamson, Grant Shapps and Julian Smith, are targeting 125 names. Any contest will likely be restricted to MPs because a new vote by party members would take too long.
Ms Truss tried to salvage her faltering premiership on Friday by firing Chancellor Kwasi Kwarteng after weeks of economic turmoil in the wake of the mini-budget tax cuts he unveiled in September.
But Mr Kwarteng’s replacement, Jeremy Hunt, was accused yesterday of staging a ‘silent coup’ after effectively tearing apart Mrs Truss’s policy platform by saying taxes will have to rise and ‘efficiency’ is needed to to balance the books.
Ben Wallace (pictured) withdrew from the Tory leadership contest in July after concluding that the pressures of the job would have too much of an impact on his family
Mr Hunt could also delay an income tax cent cut for a year – in a return to Mr Sunak’s leadership pledge. The reversal of the flagship announcement would be the latest in a series of government turnarounds.
No 10 has also been forced to deny claims that Mr Hunt was the second choice for the job after former Chancellor Sajid Javid.
Mr Kwarteng is said to have told friends that the prime minister has bought himself “only a few weeks” by firing him and that MPs are “circling the wagons” to remove her.
As Westminster prepares for another tumultuous week:
The MoS learned that Mr. Kwarteng opposed the disastrous plan to announce a 45p tax rate cut, but was outvoted by Ms. Truss;
Sources claimed that when she fired Mr. Kwarteng, Ms. Truss said, ‘They’re coming for me’ – referring to the conspirators seeking to evict her;
The prime minister’s allies claimed the plot was part of a “vendetta by a group of former public schoolboys who can’t get over being beaten by a woman”;
A high-ranking Tory MP predicted the party would split if Mr Sunak was ‘forced’ on the public by MPs;
Former leadership candidate Penny Mordaunt would “step up” her courtship with colleagues ahead of another pitch on the court;
Astonishingly, a faction of MPs pleaded for the return of Theresa May as interim leader;
Ms Truss tried to regain some political momentum by preparing for the introduction of new anti-strike laws.
A friend of Mr Wallace said: ‘Ben is concerned that economic problems could lead the Prime Minister to backtrack on her pledge to increase defense spending to 3% of GDP by 2030. a world war, and wants to make sure the country is well protected.’
The friend added: ‘Rishi is too divided and not popular enough with the members. Ben is a hawk of tax cuts and would help reclaim the party’s reputation for economic competence.”
Wallace considers intervention because he fears Rishi Sunak (pictured), favorite to succeed Liz Truss, ‘cannot unite the party’
Wallace has been praised for his handling of the crisis in Ukraine, which has increased his popularity among MPs and the entire party.
The Sunday Express revealed that rebellious Tories plan to replace Ms Truss with a ‘unit team’.
One mutineer said, “We want to do what’s right for the party and the country, and we’re not hanging around.”
A former ally of Mrs. Truss also said, “There’s nothing we can do now to save her. She faces a slow, humiliating demise.
“I’ve come to the conclusion that it would be more humane to put her out of her misery quickly.”
Allies remaining, Ms. Truss, claim that Mr. Sunak is helping instigate the conspiracy – which his aides deny – and are furious at the humiliation she received at the 1922 committee meeting last week.
Mr Sunak has told friends that before Liz Truss became Prime Minister, ‘the Tories had one great asset, a reputation for competence and one problem, that we were the nasty side. Now we just have the problem’.
An ally of Mrs. Truss said, “This is a vendetta driven by former public schoolboys who can’t get over being beaten by a woman.”
Mr. Sunak attended the prestigious Winchester College, although Mr. Williamson, Mr. Shapps, and Mr. Smith all attended public schools.
The ally added, “If they keep planning to install Rishi, they’ll just end up with Boris again.”
Sources claimed that when she fired Mr. Kwarteng, Liz Truss said ‘They are coming for me’ – referring to the conspirators who want to evict her
A source in Downing Street told the conspirators: ‘The people who conspired against one prime minister are now trying to eliminate another. They don’t care about our economic prosperity or the fate of the markets or the situation in Ukraine. They know who they are. They don’t care about anything except their own jobs and careers.
“We owe it to the British people to focus on them and their needs. And that’s what we do. The prime minister and the new chancellor help people with the cost of energy. It’s time for the conspirators to think about who they’re working for: it’s the British people.’
A high-ranking Tory MP predicted “the party will fall apart” if anti-Truss colleagues try to force Mr Sunak onto the party. He told the MoS: “This could result in an irreversible split that would keep the Tories out of power for a generation.”
The former minister angrily cited Michael Gove and Grant Shapps as the nucleus of “a cabal” that was moving to replace Ms Truss with Mr Sunak.
Meanwhile, No. 10 has furiously denied claims that Mr Javid turned down Ms Truss’ overtures for him to succeed Mr Kwarteng, with a source close to her saying she wanted to emulate the close working relationship between David Cameron and George Osborne.
“The Prime Minister was quick to settle for Jeremy. There was no plan B,” the source said. “The Prime Minister and Jeremy have worked closely together for many years and, as Secretary of State, Liz often called him for advice.”
The source added: “Jeremy is a detail person and he understands that we face two choices: Liz or Starmer. What’s done is done and the Prime Minister has delivered a massive energy package that will ensure people don’t freeze to death this winter, as well as the widely acclaimed tax cuts for the lowest paid workers in society. Jeremy will help balance the ticket with the Prime Minister and sort things out with the markets and with the party.”
An ally of Ms Truss said the decision to fire Mr Kwarteng was “extremely difficult”. The ally said: “The prime minister felt a deep personal sadness, but high-ranking party figures had encouraged her to move the chancellor. She acted in the national interest to avoid a deteriorating market situation.
“She was locked in. The Treasury had told it to turn around and the markets peaked. The pension funds were essentially playing roulette with the economy. Pension funds became addicted to cheap money and now it’s gone. In addition, large banks overcharge customers far above the base rate. Where is? [money-saving expert] Martin Lewis now that millions of people are being ripped off by greedy banks?’
Upcoming Chancellor Jeremy Hunt (pictured) admitted on Saturday that the government had ‘made mistakes’ and had been ‘blind’ with its economic plan
A friend added: “We’ve borrowed too much for too long. The costs of paying off our debts are going up all the time.’ A No 10 source added that the government plans to crack down on trade union strikes, published this week, “could be a game changer.”
In a news conference on Friday, Ms. Truss said she is scrapping her plan to freeze the corporate tax — and it will rise from 19 percent to 25 percent as previously planned.
Mr Hunt admitted on Saturday that the government had “made mistakes” and had been “blind” with its economic plan.
He said: ‘No chancellor can control the markets, but what I can do is show that we can control our tax and spending plans and that will require some very difficult decisions, both in terms of spending and taxes.
“I need to do that now so that people who are afraid that their mortgage payments will go up, who are worried about how they will get through the winter [with] With the cost of living crisis, people in the NHS who are concerned about the pressures they face can be reassured that the fundamental stability they need from the government, and expect from the government, is in place.
“There were mistakes. It was a mistake to ask for tough decisions across the board to lower the tax rate of the very rich.’
He denied that he had any ambitions to become prime minister himself, saying his leadership ambitions have been “clinically cut.”