Liz Truss sorry for ‘mistakes’ and vows to lead Tories into next election

'We have made mistakes, I'm sorry for those mistakes'

Liz Truss has apologised for her “mistakes” and vowed to lead the Conservative Party into the next general election as fights for her premiership.

It comes after her newly appointed chancellor Jeremy Hunt ripped her economic strategy to pieces just six weeks after she stepped into Number 10.

The prime minister said her government has “adjusted” what it is doing after its fiscal policies spooked the markets and sent the value of the pound plummeting.

She and her previous chancellor, Kwasi Kwarteng, unveiled a £45 billion package of tax cuts which would have been funded by more public borrowing while benefiting mainly the wealthy.

Faced with rare criticism from the International Monetary Fund, a crash in the polls, and accusations of destroying the Tory party’s economic credibility, Ms Truss sacked Mr Kwarteng on Friday.

She also performed two major U-turns on plans to cut the top rate of income tax and to scrap a rise in corporation tax.

Including these measures, Mr Hunt told the Commons today that the Treasury will save £32 billion as he announced he was scrapping the majority of the prime minister’s reforms.

Jeremy Hunt says a change in leadership at such a turbulent time would cause 'even more instability' as he defends Liz Truss

Ms Truss said she appointed a new chancellor with the aim of adopting a fresh strategy to “restore economic stability”.

“I do think it is the mark of an honest politician who does say, yes, I’ve made a mistake,” the embattled leader said.

The new chancellor also scaled back the government’s energy support package, which for most people will now run until April instead of two years as originally planned.

Ms Truss said she wanted 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’ve acknowledged that,” she told the BBC.

She said she is “sticking around” because she was “elected to deliver for this country”, adding: “I will lead the Conservatives into the next general election.”

What is Liz Truss' message to disgruntled MPs calling for a change in leadership?

The pressure on the prime minister gained traction on Monday evening with five Tories now openly calling for her to go after just six weeks in power. Sir Charles Walker was the latest to make the case for her exit.

He told Sky News’ Beth Rigby: “I think her position is untenable. She has put colleagues, the country, through a huge amount of unnecessary pain and upset and worry.”

The situation “can only be remedied” with “a new prime minister”, he said.

Earlier, the prime ministers’ press secretary said there had been no point on Monday when Ms Truss thought her time was up.

Conservative Party chairman Jake Berry said there had been a focus on “unity” as Ms Truss addressed a gathering of the One Nation group of Tory MPs in Westminster.

He said she had been “exceptional” and he had not heard any irritation towards her in the meeting, although it was still going on.

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