Kwasi Kwarteng admits ‘we blew it’ with economic reforms — follow latest | News

Kwasi Kwarteng has admitted the Liz Truss government “blew it” when trying to bring in sweeping economic reforms.

The former chancellor said the six weeks when Truss was in Downing Street and he was overseeing the economy represented a “very exciting” time in which “you felt you were part of a project”.

But their measures spooked the markets and caused vast economic turmoil, which led to Truss sacking Kwarteng and replacing him as chancellor with Jeremy Hunt. He immediately set about undoing all of the plans announced by Kwarteng in his mini-budget.

In an interview with the Financial Times, Kwarteng said: “People got carried away, myself included. There was no tactical subtlety whatsoever. My biggest regret is we weren’t tactically astute and we were too