The prime minister, who is in Bali for the G20 summit, refused six times today to apologize for decisions taken by his predecessor that have caused severe and ongoing economic turmoil. He acknowledged “mistakes were made” by Ms Truss and her chancellor Kwasi Kwarteng, whose £45bn of unfunded tax cuts sent mortgage rates skyrocketing and set off a run in sterling and a free fall in the gold market. Bullying Raab claims an ‘open secret’ – latest policy But every time Sky News political editor Beth Rigby asked him to apologise, he repeated that mistakes had been made and said: “What I want to do now is put them right.” He admitted that “difficult decisions” need to be made to get the economy back on track, but he is “prepared to do difficult things.” Mr Sunak added: “I spent the summer talking about the challenges facing our country, talking about what I thought was needed to address them and fix them to build a foundation where we could deliver jobs and growth and well-being in people over time. “So I think people know where I stand on all these issues. And now that I’m prime minister, I’m going to make sure we get that done.” Although Mr Sunak spoke out against Ms Truss’ plans for the economy during the summer’s leadership campaign, he said he would not vote against her mini-budget. He said that since he took over there was now “much more stability in the UK’s financial position in terms of what the UK is paying to borrow money and what has happened to the pound”. Image: Rishi Sunak met Canadian Prime Minister Justin Trudeau at a cafe in Bali The mini-budget cost the UK £30 billion Analysis released on Monday by independent think tank the Resolution Foundation found that Ms Truss’s mini-budget cost the UK £30bn, double the amount the Treasury says will need to be raised by Jeremy Hunt, the Chancellor. Mr Hunt will seek to address this £60m “black hole” in Thursday’s Autumn Statement. The chancellor told Sky News at the weekend that there would be tax rises for everyone, although the wealthiest would have to contribute more, and he would announce a rise in the national living wage. Mr Sunak said the government had a plan “to limit the rise in mortgage rates which will reduce inflation”. Use Chrome browser for more accessible video player 6:40 Details: Rishi Sunak Interview “I think people can be reassured that we will put together a plan that will do that, and that’s what you’ll see on Thursday,” he added. “I think the chancellor has been very clear about the challenges we face. It is right that we are honest with the country about the scale of the challenge we face. “But what we’ve also said is that the way we go will have justice and compassion at the heart of those decisions.” Read more: Sunak says Russia must ‘end barbaric war’ Hunt says everyone will have to pay higher taxes – but the rich will make bigger sacrifices Image: Rishi Sunak was seen glaring at Sergei Lavrov as the Russian spoke at the G20. Photo: No. 10 Mr Sunak is making his second major international visit as prime minister, following the COP27 climate change talks in Egypt last week. He said he was “hopeful” he would have a meeting with Chinese President Xi Jinping, and said his country posed a “systemic challenge” to UK values and interests. On Tuesday morning, Ukrainian President Volodymyr Zelenskyy spoke via video link with the leaders of the 20 largest economies, including Russian Foreign Minister Sergei Lavrov, who is there on behalf of Vladimir Putin. Zelensky, who previously called off the G19 summit as it lost Russia, told the group that now is the time to stop the war in Ukraine. There is doubt whether a joint communique on the Ukraine war will be issued at the end of the summit, as it would have to be approved by Russia.
