Sajid Javid, a former health secretary, and Jeremy Hunt have joined the race for Boris Johnson's replacement.
Both men have announced their intentions to run in the Sunday Telegraph for Conservative Party leader.
Both are calling for tax cuts. Mr Javid wants to eliminate National Insurance and Mr Hunt wants to support businesses.
They will be joining Transport Secretary Grant Shapps and Chancellor Nadhim Zhawi in the race for leadership.
Chancellor Rishi, Attorney General Suella Braverman and Kemi Badenoch (ex-parallelities minister) have all declared their standing.
According to Sunday's Mail, Liz Truss's allies have stated that she would also be willing to put her hand up to replace the prime minster with a promise to reverse the health tax levy on Mr Sunak.
An earlier confirmation by Ben Wallace, the Defence Secretary, was that he would not be running.
As a direct criticism of Mr Sunak's actions, Mr Javid stated to the Sunday Telegraph that he wasn't sure if he would have initiated the increase in National Insurance.
The 52-year old said that he was focused on his job, while working in government was not "trying to do other peoples' jobs for him".
Javid also stated that he would reduce corporation tax, which is levied on profits of businesses, by 1p per annum to 15p instead of 19p. This would reverse the current plan to increase the rate to 25p by April next year.
He said that he would also implement a temporary reduction in fuel duty to ease the crisis.
Mr. Javid stated that "Whether it be the cost of living, or low growth, it's my most immediate challenge... You require someone who has an economic plan starting from day one."
In an interview with the paper, Mr Hunt (55) stated that he planned to eliminate business rates in the most disadvantaged areas of the country for five consecutive years.
He also announced plans to reduce corporation tax to 15% under a recent agreement with the G20, which is the organization representing the major economies around the globe.
Mr Hunt criticized Mr Johnson's "far too New Labour" levelling-up agenda by focusing on infrastructure investments projects rather than "wealth creation".
His pitch also included his claim that he could "restore trust" in voters in the Conservative Party by being a figure who would "restore faith", arguing that he was the only major candidate to not have served in Boris Johnson’s government.
He stated that he had called out the problems long before the other major contenders. "I have not been defending what is indefensible," said he to the paper.
Between 2012 and 2018, Mr Hunt was the health secretary to Theresa May and David Cameron. He then went on to be foreign secretary for a full year between 2018 and 2019.
From June 2021 to last week, Mr Javid was the health secretary in Boris Johnson’s government. He resigned after the PM handled the Chris Pincher/Partygate scandals. This happened just minutes before Mr Sunak.
Between July 2019 and February 2020 he was also chancellor under Johnson. He then resigned from the cabinet of planned reforms to operations at the Treasury and Downing Street.
Mr Shapps had earlier launched his own leadership campaign by promising to reduce personal tax for the most vulnerable people and to give state support to companies with high energy consumption. This was in addition to ruling out an early general elections.
Before being named chancellor, Mr Zahawi was education secretary. He said that he intended to "steady and stabilize the economy".
He stated that he would lower taxes and increase defense spending as well as continue to implement the education reforms that he had conceived.
