RISHI Sunak has boasted that he will undo funding given to “deprived urban areas”, redirecting these to wealthy towns in a recently uncovered video.

In a video shared with The New Statesman, the Tory PM hopeful said: “I managed to start changing the funding formulas, to make sure that areas like this [Kent] are getting the funding they deserve.

“We inherited formulas from the Labour Party, that shoved all the funding into deprived urban areas. That needed to be undone: I started the work of undoing that.”

Sunak made the comments speaking to grassroots Tory members at Tunbridge Wells in Kent in July. The average house price in the town sits at almost double the national average at £528,459.

Speaking to The New Statesman, UK shadow levelling up secretary Lisa Nandy said: “This leadership race is revealing the Conservatives’ true colours. It’s scandalous that Rishi Sunak is openly boasting that he fixed the rules to funnel taxpayers’ money to prosperous Tory shires. 

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“This is our money. It should be distributed fairly and spent where it’s most needed – not used as a bribe to Tory members.”

Sunak’s campaign did not dispute the video and instead defended its content.

“Levelling Up isn’t just about city centres, it’s also about towns and rural areas all over the country that need help too. That’s what he changed in the green book and he will follow though as prime minister,” a source said.

“Travelling around the country, he’s seen non-metropolitan areas that need better bus services, faster broadband or high quality schools. That’s what he’ll deliver as prime minister.”