Mel Stride admitted the mini-budget was "a mistake". The shadow chancellor made the remarks ahead of a speech he is set to deliver on Thursday. Mr Stride also warned the Labour Party is "not fiscally credible" and is "making a lot of mistakes". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00We need to recognise something about our economic past as a party and that was the mini budget at
00:06the end of 2022 where mistakes were made and fiscal credibility and responsibility was absent
00:15and we have to learn from that and I think we have to put our hands up and accept that that
00:19was a mistake and to re-establish the fact that my party has fiscal responsibility in its DNA
00:27and going forward that will be expressed at every turn so we will never again come forward
00:32with tax cuts that are unfunded for example it's particularly important now because we have a
00:38Labour Party which is not fiscally credible is making a lot of mistakes on the economy destroying
00:43growth and jobs and people's livelihoods and we've got a reform party which is prepared to go out and
00:48promise whatever it thinks it takes would take to get elected huge tax cuts without any credible
00:55notion as to how they would be funded so it's really important that we have the Conservative
00:59Party making it very clear that of the political choices out there we are the ones that will stick
01:04to fiscal responsibility
01:11you