Liz Truss has been left fighting for her job (Daniel Leal/PA)
(Picture: PA Wire)Liz Truss has apologised for her “mistakes” in hatching a mini-budget which sent markets into turmoil and which has now largely been binned in a dramatic U-turn.
Chancellor Jeremy Hunt, who was parachuted in to replace sacked Kwasi Kwarteng, announced the reversal of many of the tax cuts in the mini budget heralded as a paving the way for growth in the economy.
In his commons address he emphasised that that to bring back stabilty to the UK the programme upon which the prime minister was elected as leader by party members would be jettisoned almost in entirety. Having originally blamed a drop in the pound against the dollar adn rises in UK borrowing rates she has now accepted her role in the chaos which propmted an intevention by the Bank of England.
She told the BBC in an interview with political editor Chris Mason: “First of all, I do want to accept responsibility and say sorry for the mistakes that have been made. I wanted to act, to help people with their energy bills, to deal with the issue of high taxes, but we went too far and too fast. I have acknowledged that. I have put in place a new Chancellor with a new strategy to restore economic stability. Now what I am focused on is delivering for the public.”
She added: “I am somebody who is honest, I’ve said that mistakes were made. I’ve also acted to address that, to make sure the country is in a strong position. And that’s what I will continue to do as Prime Minister.”
The Prime Minister continued: “We are delivering. We’re delivering on energy prices for people this winter, we’re delivering on minimum services on railways, we’re delivering on our speeded up road project, we’re delivering on reversing National Insurance. So yes, I have been honest with the public about what we’ve needed to change because of the circumstances. But I’m completely committed to delivering for this country. And that’s why I’m in the job. That’s why I get up each morning because I want this country to be a better place where everybody has opportunities, everyone can succeed. That is what motivates me.”
She also apologised to One Nation Conservatives, tories in the middle ground of the party, at a private meeting.
