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British Prime Minister Liz Truss on Sunday tried to reassure her party and the public by saying she should have done more to better prepare the ground in an attempt to minimize the market reaction that has seen the pound hit a record low and government borrowing costs soar, Reuters reported.

On the first day of the ruling Conservative Party's annual conference, Truss, who has been in power for less than a month, took a softer tone, trying to assure the public that she would take care of them during the difficult winter and beyond.

In doing so, she backed her growth plan, which investors and economists have criticized for providing billions of pounds in additional spending but offering very few details on how it will be paid for in the short term.

"I do stand by the package we announced, and I stand by the fact that we announced it quickly because we had to act, but I do accept that we should have laid the ground better," she told the BBC.

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