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Daily Mirror
Daily Mirror
Politics
Lizzy Buchan

Kwasi Kwarteng finally admits he and Liz Truss 'blew it' and got 'carried away'

Kwasi Kwarteng has admitted he and Liz Truss "blew it" with their disastrous tax-slashing mini Budget.

The former Chancellor, who lasted only 38 days in No11, said they got "carried away" with their dramatic economic reforms, which spooked the markets and cause the pound to tank.

The economic turmoil cause Tory panic and resulted in Ms Truss's resignation after only 45 days in No10 - making her the shortest serving Prime Minister in history.

Mr Kwarteng said their economic agenda was "very exciting" but admitted things got out of hand during the political lull caused by the national mourning period for the Queen in September.

Liz Truss and Kwasi Kwarteng were forced out of office after triggering economic meltdown (Getty Images)

With normal business on hold, the pair threw everything at the doomed mini-Budget and appeared to ignore advice from those around them.

Mr Kwarteng had already sacked the top Treasury official, Sir Tom Scholar, and Ms Truss reportedly binned off opinion polls after deciding politicians were too obsessed with "optics".

Advisers warning her and Mr Kwarteng that their plans would be seen as a "budget for the rich" were ignored.

"People got carried away, myself included,” Mr Kwarteng told the FT. “There was no tactical subtlety whatsoever.”

Liz Truss announces her resignation outside 10 Downing Street (Getty Images)

Amid spiralling economic turmoil, Mr Kwarteng discovered he was being sacked on Twitter as he jetted back from talks in Washington.

In a brutal meeting with Ms Truss, he said he warned her that he was a "firebreak" and sacking him would "make her weaker, not stronger".

"She said she was doing this to save her premiership," he said.

The top Tory initially tried to pin blame on Ms Truss for the collapse of their plans - branding her decision to sack him "mad" and claiming he told her to "slow down".

But he now appears to have accepted his role in their doomed stint in power.

"My biggest regret is we weren’t tactically astute and we were too impatient,” he said.

“There was a brief moment and the people in charge, myself included, blew it.”

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