Former UK ministers Jeremy Hunt and Sajid Javid join leadership race

Both Hunt, who lost out to Johnson in the 2019 leadership race, and Javid, said as leader they would cut corporation tax to 15%, while Javid also said he would reverse an increase in social security contributions which took place in April.

British Conservative lawmakers and former health ministers Jeremy Hunt and Sajid Javid used interviews with the Telegraph newspaper to announce they were joining the race to succeed Boris Johnson as prime minister.

MP Jeremy Hunt walks outside Downing Street in London, Britain. (REUTERS)

Both Hunt, who lost out to Johnson in the 2019 leadership race, and Javid, said as leader they would cut corporation tax to 15%, while Javid also said he would reverse an increase in social security contributions which took place in April.

"It’s very straightforward why I want to do it," Hunt told the Telegraph of his plans to run. "It is because we have to restore trust, grow the economy, and win the next election."

Javid, who is also a former finance minister, told the newspaper: "We cannot afford not to have tax cuts."