Rishi Sunak pledges to correct Liz Truss’ Mistakes in his first speech as PM

In his first speech as prime minister, Rishi Sunak promised to correct “mistakes” made under Liz Truss’s direction and forewarned of “difficult decisions” to come.
He promised to rebuild confidence and foster trust and lead the UK through “a profound economic crisis.”
Mr. Sunak pledged to deliver the Conservative Party’s election manifesto, which resulted in a resounding victory in 2019.
His speech outside No 10 came after he was appointed PM by King Charles. The UK’s first British Asian prime minister, Mr. Sunak announced his cabinet this afternoon, after telling Tory MPs to unify or face electoral oblivion. In major reshuffle, Dominic Raab returned as deputy PM, Grant Shapps became business secretary, and Jeremy Hunt remained as chancellor. A large majority of MPs backed Mr. Sunak for the leadership and when his only remaining rival Penny Mordaunt withdrew, there was no need for a ballot of Tory members.
In his own speech, Mr. Sunak paid tribute to his predecessors Boris Johnson and Ms. Truss, saying she “was not wrong to want to improve growth in this country – it is a noble aim”.
“But some mistakes were made,” Mr. Sunak stated. “Not born of ill will or bad intentions, quite the opposite, in fact. But mistakes nonetheless.
“I have been elected as leader of the party and as prime minister in part to fix them. And that work begins immediately.”
Mr. Sunak – who was chancellor until July this year – said he would place “economic componence and stability at the heart of this government’s agenda”, warning that “will mean difficult decisions to come”.
He gave no details about what those decisions were, but how to fund support for energy bills, and bring down government debt, are likely to be among them. Mr. Sunak is expected to cut public spending to plug an estimated £40bn hole in the public finances.