UK PM Liz Truss says sorry for mistakes, insists she won't quit
UK Prime Minister Liz Truss apologised for going "too far too fast" with reforms that caused investor confidence to evaporate and her poll ratings to plunge. However, she has vowed to stay on and lead Tories into next election.
In an interview Truss said, "I do want to accept responsibility and say sorry for the mistakes that have been made... we went too far and too fast."
However, she said that she was "completely committed to delivering for this country" despite questions over who was now in control of government policy.
Her government on October 17 axed almost all of its debt-fuelled tax cuts unveiled last month to avert fresh market chaos.
Finance Minister Jeremy Hunt, who was appointed on October 14 after Truss sacked her close ally Kwasi Kwarteng, jettisoned the remaining major planks of her tax-cutting agenda, including scaling back her vast energy support scheme.
The shock move by new finance chief Jeremy Hunt leaves Truss' position in a precarious state, with Conservative MP Roger Gale saying that Hunt was "de facto prime minister".
Hunt estimated the tax changes would raise about Pound 32 billion per year after economists estimated the government faced a Pound 60 billion black hole.