In full: PM holds press conference after sacking chancellor

The prime minister Liz Truss held a 10-minute press conference after a dramatic day in which she fired Kwasi Kwarteng as chancellor.

Addressing an audience of journalists, the PM said she was "incredibly sorry" to lose Kwasi Kwarteng as chancellor, but added that her newly-appointed Chancellor Jeremy Hunt "shares her vision".

The PM has been under growing pressure from within her party to rethink her economic plans. She admitted the government's mini-budget had gone "faster and further" than expected, and announced a U-turn on plans to freeze corporation tax.