Kwasi Kwarteng said “a reboot, a rethink” was needed for the UK economy and to help the less well-off.
He rejected a claim from an un-named minister that his mini-budget was a “massive gamble”.
Speaking to BBC political editor Chris Mason, he said the UK had no growth and the highest taxes in the G7 under its previous policies.
Live: Chancellor cuts income tax and stamp duty – your questions answered
