British PM Sunak Vows to Fix Truss’ Mistakes Britain’s new Prime Minister, Rishi Sunak, on Tuesday pledged to “fix the mistakes” made by the Truss government and restore the country’s eco
Britain’s new Prime Minister, Rishi Sunak, on Tuesday pledged to “fix the mistakes” made by the Truss government and restore the country’s economic stability.
Sunak, in his first address to the nation outside 10 Downing Street, said he officially became the prime minister moments ago after King Charles III met him at Buckingham Palace and invited him to form a government. Truss’s attempt of using debt-funded tax cuts to spur economic growth plunged the British pound to a 37-year low against the U.S. dollar, while pushing up the cost of government borrowing and mortgage rates.“I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come,” he said.