Conservative leadership race: Jacob Rees-Mogg heads for heart of ‘Project Fear’

Jacob Rees-Mogg has said he believes the culture at the Treasury will have to change
Jacob Rees-Mogg has said he believes the culture at the Treasury will have to change
SIMON DAWSON/REUTERS

Jacob Rees-Mogg is being considered for a ministerial role in the Treasury amid criticism that the department has become “the architect of Project Fear”.

The leading Tory Eurosceptic MP is being tipped to succeed Liz Truss as chief secretary to the Treasury amid Boris Johnson’s desire to accelerate preparations for a no-deal Brexit.

Mr Rees-Mogg is facing competition for the role from Rishi Sunak, a junior local government minister, whose endorsement as a prominent Tory MP of the 2015 intake was seen as a key moment in Mr Johnson’s leadership campaign.

Gerard Lyons, a former chief economics adviser to Mr Johnson and prominent Brexiteer, has been interviewed by officials for the role of Bank of England governor. Dr Lyons has argued that no-deal may be