(MENAFN- Trend News Agency) Britain's Prime Minister Liz Truss apologised for 'mistakes' in
her programme that caused investor confidence to evaporate and her
poll ratings to plunge before nearly all of it was finally shredded
on Monday, but said she would not step down, reports citing
.
'I do want to accept responsibility and say sorry for the
mistakes that have been made,' Truss told the BBC.
'I wanted to act but to help people with their energy bills to
deal with the issue of high taxes, but we went too far and too
fast.'
Finance Minister Jeremy Hunt, who was appointed on Friday after
Truss sacked her close ally Kwasi Kwarteng, jettisoned the
remaining major planks of her tax-cutting agenda on Monday,
including scaling back her vast energy support scheme. read
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Asked if she was now prime minister in name only, Truss said she
had appointed Hunt because she knew she had to change
direction.
'It would have been completely irresponsible for me not to act
in the national interest in the way where I have,' she said.
'It was right that we changed policy.'
Truss and Kwarteng attempted to upend British fiscal policy by
unveiling 45 billion pounds of unfunded tax cuts last month to snap
the economy out of stagnation.
But the response from bond investors was brutal and borrowing
costs surged. Lenders pulled mortgage offers and the Bank of
England eventually had to step in to stop pension funds going
under.
Asked about the impact of her policies, Truss said she
understood it was 'very difficult' for families across the country
and that she would do what she could to help them.
Her two-year energy package, however, was drastically scaled
back by Hunt and will now last only until April.
'The most vulnerable will be protected into next winter,' she
said. 'We're looking at exactly how we can do that.'
Truss, who became leader less than six weeks ago, is facing a
possible revolt from her lawmakers as soon as this week, according
to reports.
But she remained defiant on Monday, saying she would lead her
Conservatives into the next election.
'I'm sticking around because I was elected to deliver for this
country,' she said. 'And that is what I am determined to do.'