Liz Truss has insisted she will lead the Tories at the next general election, giving up fighting to save her authority despite the U-turn.
After new chancellor Jeremy Hunt scrapped almost all of his tax cut plans to stabilize market turmoil, the prime minister apologized for the mistakes.
He added that his month-old premiership “hasn’t been great”, but had “fixed” mistakes.
And he said it would have been “irresponsible” not to change course.
In an interview, he said he was still committed to boosting Britain’s economic growth, but admitted it would take longer to achieve this.
“I’m committed to the vision, but we have to deliver it differently,” he said.
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It came after a dramatic day in Westminster, when Mr Hunt announced that almost all of the tax cuts announced in last month’s mini-budget would be scrapped.
The decision has been welcomed by investors, but it has dealt a blow to Ms Truss’s economic agenda just weeks into her time in No 10.
Prime Minister Apologises for Mistakes
Liz Truss told she was “sorry for the mistakes that have been made”.
In her interview, Ms Truss said she accepted responsibility for going “too far, too fast” – and she “wants to apologize for the mistakes”.
He added that he was committed to a “low-tax, high-growth economy” – but preserving economic stability was now a “priority”.
“I think that’s the mark of an honest politician who says ‘yes, I made a mistake. I’ve corrected that mistake. And now we need to deliver for the people’.”
“It would have been completely irresponsible of me not to have acted in the national interest the way I did.”
Shadow Treasury Minister James Murray said the Prime Minister’s apology “will not undo the damage” from his mini-budget “after weeks of blaming everyone”.
“No amount of regret can change the fact that this crisis was created in Downing Street but working people are paying the price,” he added.
