Sunak also pledges to ensure "security in retirement", adding that the Conservatives would ensure that the state pension is never dragged into income tax.

He's talking about his "triple lock plus" plan, which would mean the personal allowance for pensioners would increase at least 2.5% or in line with the highest of earnings or inflation.

You can read more about it here.

Image source, Reuters

After unveiling his plan to abolish the main rate of self-employed National Insurance by the next Parliament, Sunak says self-employed people don't have the same security that those on the payroll do.

"It is worth taking that risk," he says, adding that their taxes must be cut.

He's met with big applause from the room at Silverstone - and adds that this plan will create "a new culture of enterprise in our country".

For context: As things stand for the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200. Read our explainer here.

This is Sunak's manifestopublished at 12:24 British Summer Time 11 June

12:24 BST 11 June

Henry Zeffman
Chief political correspondent

Look out for what is not in the manifesto as well as what is.

Some on the right of the Conservative Party will be disappointed that the tax cuts are focused on National Insurance — some had wanted a significant cut in inheritance tax, or even the abolition of the tax altogether.

And on illegal migration and asylum, Rishi Sunak continues to steer a careful course when it comes to the European Court of Human Rights. The manifesto says: “If we are forced to choose between our security and the jurisdiction of a foreign court, including the ECHR, we will always choose our security.”

In other words, Sunak has resisted those in his party who wanted him to commit to withdrawing from the court, or holding a referendum on whether to do so.

It’s fair to say this manifesto is Sunak’s.

If it succeeds, he will take the political credit. If it fails, his internal critics will rush to pile the blame onto him.

How will the tax cuts be funded?published at 12:22 British Summer Time 11 June

12:22 BST 11 June

Faisal Islam
Economics editor

The claim is £17bn of tax cuts by the final year of the next Parliament:

• £10bn on the 2% cut to employee National Insurance (1% off in April 2025, a further 1% in April 2027)
• £2.6bn for the abolition of self-employed National Insurance
• £2.4bn a year on the triple lock plus for pensioners on the basic state pension
• A further £2bn on child benefit changes and abolition of stamp duty for most first time buyers

How is this funded?

The Conservatives say they can find £6bn a year from cracking down on tax avoidance and £12bn from lower welfare payments.

These are not as solid or bankable sources of funding for manifesto promises as, for example, a promise to shrink departmental spending.

They rely on “crackdowns” on fraud, for example. They are basically saying “trust us” we can deliver a smaller state and therefore lower your taxes.

Alex Forsyth
Political correspondent

Here’s some detail of the what the Conservatives are planning to do on taxes, according to their manifesto:

• Take another 2p off employee National Insurance - this was reported in advance of the manifesto being published. The government has already cut National Insurance rates twice in the past year, and is now saying it would cut it to 6% by April 2027
• Abolish the main rate of self-employed National Insurance by the end of the parliament
• Raise income tax thresholds for pensioners, so the state pension doesn’t get dragged into income tax. This was already announced by the Conservatives near the start of the election campaign. They call it the “Triple Lock Plus”
• Make changes so households don’t start losing child benefit until their combined income reaches £120,000 – something else the party has already announced

You might have already heard quite a lot about tax in this election campaign – that’s because the Tories are trying to make this a dividing line with Labour by claiming they would be a tax-cutting party.

Image source, Reuters

Sunak repeats the claim that Labour will raise taxes by more than £2,000, adding "families cannot afford that".

For context: BBC Verify has looked into the figure more broadly and concluded it risks misleading people, including because it's an estimate over four years - you can read more about it here.

"We are the party of Margaret Thatcher and Nigel Lawson," adds Sunak, saying they believe in "sound money".

He says their plans are fully funded and that the plans for permanent reductions in taxation will be paid for by "controlling the unsustainable rise" in working-age welfare. It is "morally right" that those who can work, do work", he says.

Moving onto energy, Sunak says he will put security and family finances ahead of “unaffordable eco-zealotry”.

He attacks Labour’s plans to set up a publicly-owned energy company called GB Energy, and pledges to build new gas power stations, saying this would combat the “aggressive actions of dictators".

For context: Sunak has previously said the UK needs to build new, gas-fired power stations to ensure the country's energy security, to have a reliable and affordable back-up for days when renewables like wind and solar did not deliver.

Sunak goes on to say that the Tories will introduce a migration cap, admitting that the migration to the UK has been too high in recent years.

He adds that the Conservative Party has a clear plan: "We will halve migration as we have halved inflation and then reduce it every single year."

For context: Immigration levels last year were about three times higher than in 2019, when the Tories won the last election with a promise to slash migrant numbers, although they were lower than in 2022.

Turning to border security, Sunak addresses the Rwanda scheme, saying flights will leave in July if the party is voted in - and insisting the plan to send some asylum seekers to the east African country will act as a deterrent.

Sunak says Conservatives know "security is essential for success" and says there will be a rise in defence investment to 2.5% of GDP by 2030 to deal with the "increasingly uncertain world we live in".

This will be the biggest sustained increase in the defence budget since the end of the Cold War, says Sunak, claiming this is one that Labour will "not match".

Image source, PA Media

Sunak talks about some of the challenges the UK has faced in decades - citing the Covid pandemic and spike in energy prices following Russia’s invasion of Ukraine.

But despite this, he claims economic stability is returning, inflation is "back to normal", real wages have been rising for almost a year and the economy "growing healthily" again.

He says: “The question now is who is best to turn that foundation into a secure future for you, your family and our country".

Henry Zeffman
Chief political correspondent

Image source, PA Media

I’m just thumbing through the 76-page manifesto now. At first glance there doesn’t appear to be much unexpected in there, beyond a promise to abolish the main rate of self-employed National Insurance over the course of a Parliament.

But part of the reason there’s not much new in there is that the Conservatives have announced so many policies over these first three weeks of the election campaign — from national service, to a legal cap on migration, to changes to how pensioners are taxed, right up to the announcement last night of another 2p cut to employee National Insurance.

There’s an interesting tactical point here.

The Conservative campaign hoped that by unleashing a blizzard of policies from the start, rather than waiting for this manifesto launch, they might be able to seize the momentum and change swing voters’ minds right away.

But the campaign does not seem to have quite panned out like that, especially since the row over the D-Day anniversary.

Today Rishi Sunak is trying to refocus attention on that policy agenda, even if much of it is out there already.

The prime minister starts by saying the country has turned a corner - and the Silverstone racetrack, where he's launching the manifesto, is the best place to show it.

"As nice as it would be for Brad Pitt to attend our manifesto launch, he's filming just outside with a brilliant British crew," he says, and adds that the UK is now the creative capital of Europe.

Image source, PA Media

Here we go - Rishi Sunak has been welcomed onto the stage and is about to unveil the Conservative manifesto for this election.

Stick with us for live updates and analysis from our correspondents.

Image source, PA Media

Tees Valley Mayor Ben Houchen addresses the audience - he praises Sunak's work across the pandemic - as prime minister and chancellor - noting the furlough scheme and support for businesses.

He then turns to attack Labour leader Keir Starmer, saying: "He’s taking the great British public for chumps, he thinks he can glide through this election…‘it’s going to be change but we don’t know what we’re going to be change to’.

“That is no way for somebody to want to become prime minister and form a government of this country,” he says, to widespread applause.

Henry Zeffman
Chief political correspondent

Sometimes Rishi Sunak can appear uncomfortable running on the last 14 years of Conservative government – preferring instead to talk about the choice going forwards, between him and Sir Keir Starmer.

But Gillian Keegan, the education secretary, who is giving a warm up speech right now is showing no such unease.

She hailed the “bold action we have taken since 2010”, specifically praising Michael Gove’s work as education secretary from 2010 to 2014.

Image source, UK POOL

Education Secretary Gillian Keegan is the first of the two warm-up speakers before Rishi Sunak takes to the stage - she's just started speaking.

Chris Mason
Political editor

Here it is. Better start reading!

We're expecting Rishi Sunak to launch the Conservatives' manifesto shortly - the stage is set, with the slogan "clear plan, bold action, secure future".

It's thought there'll be two speakers before the prime minister starts speaking.

We'll be bringing you all the latest here - including plenty of analysis from our correspondents.

You can also watch live by tapping Play at the top of this page.

Conservatives plan to fund tax cuts with welfare squeezepublished at 11:32 British Summer Time 11 June

11:32 BST 11 June

Faisal Islam
Economics editor

The expected further 2p cut in employees' National Insurance will be funded from the £12bn squeeze on welfare announced at the weekend.

The argument the PM and chancellor will make - in the manifesto - is about a future of tight finances where the Conservatives can be trusted to keep a lid on public spending.

When the Institute for Fiscal Studies say tax rises are inevitable whoever wins the election, senior Conservatives say that is to misunderstand the politics of their party.

They argue it would be impossible for their party to further raise taxes. Unlike Labour, they say they can squeeze welfare, and make efficiency savings through deployment of technology.

So, they will say, they can make credible promises of a path to lower taxation after recent hikes.

They will retain an ambition to abolish employer NI completely, but only if economic conditions allow. This they believe, will kill off the Labour attack that there is a £46bn black hole in their costings.