New UK Prime Minister Rishi Sunak acknowledges 'some mistakes were made' under Liz Truss

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Rishi Sunak delivers first speech as UK prime minister

Rishi Sunak made his first remarks to the United Kingdom after officially being named prime minister Tuesday.

In his first address as prime minister, Rishi Sunak listed Britain’s economy as his number one priority as he takes up the high office and noted that "some mistakes were made" by his predecessors.

Sunak, the third leader to hold the top job in seven weeks and the first British Asian prime minister, paid tribute to his direct predecessor Liz Truss following her resignation last week after she tried to introduce a tax cutting plan that sent the Conservative Party into chaos. 

Tories have held power in the U.K. for more than a decade but a series of scandals under Boris Johnson and highly unpopular economic policies under Truss have sent the party into crisis mode.

New British Prime Minister Rishi Sunak speaks at Downing Street in London, Tuesday, Oct. 25, 2022, after returning from Buckingham Palace where he was formally appointed to the post by King Charles III. (AP Photo/Frank Augstein)

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"She was not wrong to want to improve growth in this country," Sunak said Tuesday. "It is a noble aim and I admired her restlessness to create change. But some mistakes were made."

Truss resigned after serving the shortest term in office in British history following severe push back over a financial plan that she argued would trigger economic growth but which sent the value of the pound plunging and prompted a near immediate economic meltdown.

Sunak, who as former finance minister reportedly cautioned against Truss’ economic plan, said he will "immediately" work to fix the U.K.’s financial woes.

"I know the high office I have accepted and I hope to live up to its demands," Prime Minister Rishi Sunak said Tuesday, Oct. 25, 2022. (AP Photo/Frank Augstein)

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"I will place economic stability and confidence at the heart of this government," he said. "This government will have integrity, professionalism and accountability at every level."

Sunak also acknowledged the legacy left behind by Johnson following his July resignation when he was ousted amid a series of COVID-related scandals proceeded by the mass resignation of several top officials, including Sunak, over allegations of sexual misconduct involving his former Tory Deputy Chief Whip Chris Pincher.

British Prime Minister Rishi Sunak waves from the steps of 10 Downing Street in London, Tuesday, Oct. 25, 2022. (AP Photo/Alastair Grant)

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But apart from rebuilding national trust, unity and repairing a flagging economy, the new prime minister said he would also work to improve the medical system, schools, crime rates and environmental policies. 

"All I can say is that I am not daunted," Sunak said. "I know the high office I have accepted and I hope to live up to its demands."