October 25, 2022

LONDON — Rishi Sunak has promised to “fix” the economic mess wrought by his predecessor Liz Truss after being appointed the new U.K. prime minister.

In a sombre speech on the steps of No. 10 Downing Street Tuesday, Sunak — who has spent the day fleshing out a top team that includes many carryovers from the Truss administration — admitted “mistakes were made” by his predecessor and said he had been appointed “in part, to fix them.”

Truss only took office as U.K. PM last month, but was swiftly forced to resign after her radical economic plan spooked the markets, sent Sterling plunging and drove U.K. borrowing costs through the roof.

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