Jeremy Hunt says taxes will rise as he gets 'clean slate' on disastrous mini-budget

New chancellor Jeremy Hunt has warned that taxes will rise as he gets a 'clean slate' on the disastrous mini-budget that triggered weeks of market turmoil.

Liz Truss sacked former chancellor Kwasi Kwarteng on Friday, later telling a brief press conference in Downing Street that the government would now be delivering its high-growth mission "in a different way". The prime minister also confirmed another u-turn on the proposals in the September mini-budget, backtracking on a previous pledge to scrap the planned rise in corporation tax.

Mr Hunt, who has held several Cabinet positions in the past and supported Rishi Sunak in the leadership contest after his own bid failed to get past the first vote, has been brought into Number 11 to head up the new approach. In his first round of broadcast interviews on Saturday morning, he admitted that Liz Truss' administration had made mistakes with their plans for the economy.

READ MORE: Miriam Margolyes says 'f*** you' to new Chancellor Jeremy Hunt live on Radio 4

He told Sky News: “There were mistakes. It was a mistake when we’re going to be asking for difficult decisions across the board on tax and spending to cut the rate of tax paid by the very wealthiest.

“It was a mistake to fly blind and to do these forecasts without giving people the confidence of the Office of Budget Responsibility saying that the sums add up. The Prime Minister’s recognised that, that’s why I’m here.”

Allies of Mr Hunt have likened his new role to that of the “chief executive” in government. This morning, Mr Hunt acknowledged that the prime minister had effectively relinquished control of the public finances over to him.

Appearing on BBC Radio 4’s Today programme, Mr Hunt signalled that he now has a