PM candidate Leadsom: I am proposing a 'managed' Brexit

LONDON (Reuters) - Andrea Leadsom, one of the candidates vying for Prime Minister Theresa May's job, said she would seek a "managed exit" from the European Union on Oct. 31.

Leadsom said it was very unlikely that the EU would grant a further extension beyond Oct. 31 so London and Brussels should seek to agree those parts of Prime Minister Theresa May's rejected Withdrawal Agreement that could be ratified by the British parliament.

"It is to take the elements of the Withdrawal Agreement that parliamentarians would agree to and that the EU would like to see in place and to put it to parliament and to the EU Commission that these elements are things that would work for all of us and can be delivered by Oct. 31," she told BBC radio.

When asked about a pledge by rival Boris Johnson to cut business taxes and raise the level at which high rate tax kicks in, Leadsom said it would be impossible to get big tax changes through the current parliament.

(Reporting by Guy Faulconbridge and Michael Holden)