Liz Truss refuses to apologise for tax cut U-turn debacle at 8 minute press conference

Prime minister says she has to stay in office to ensure stability

Liz Truss has refused to apologise for problems created by her economic policies, after U-turning on yet more of her budget.

The prime minister left a planned press conference after just eight minutes and four questions, to shouts of “are you going to apologise?”

She had just dodged a question about whether she should say sorry for the chaos – which has seen interest rates on mortgages and government debt surge, and the Tories’ political fortunes evaporate.

Asked why she should remain as prime minister Ms Truss told reporters: “I’m absolutely determined to see through what I have promised, to deliver a higher growth, more prosperous United Kingdom, to see us through the storm we face.

“We’ve already delivered the energy price guarantee making sure people aren’t facing huge bills this winter.

“But it was right in the face of the issues that we had that I acted decisively to ensure that we have economic stability, because that is vitally important to people and businesses right across our country.”

Dodging another question about whether she had any credibility left, Ms Truss said: “What I’ve done today is made sure that we have economic stability in this country.

“Jeremy Hunt as Chancellor is somebody who shares my desire for a high-growth, low-tax economy, but we recognise because of current market issues we have to deliver the mission in a different way.

“And that’s what we are absolutely committed to do - achieving that stability at what is a very difficult time globally.”

The prime minister had just sacked her chancellor and closest political ally Kwasi Kwarteng, whose budget largely implemented policies she had promised during her Tory leadership campaign just a month ago.

Follow a U-turn last week on cutting the top rate of tax Ms Truss confirmed on Friday that she would not go a head with a cut in the previously planned rate of corporation tax.

But economists pointed out that even the latest U-turn left over half of her cuts to tax revenues in place, meaning hefty spending cuts would still be required to balance the books.