UK Prime Minister Liz Truss has sacked Finance Minister Kwasi Kwarteng and abandoned a significant portion of her flawed economic agenda, in an effort to save her month-old premiership.

Following a mutiny by investors and members of her own Conservative Party concerned about the impact of skyrocketing government borrowing at a time of decades-high inflation, Truss announced at a Downing Street press conference that she was abandoning plans to roll back an increase in corporate taxes, a move that will save £18 billion ($20 billion).

The government abandoned its plan to lower the top rate of income tax on October 3, just over a week after it was first announced. It was the second climbdown on a significant policy this month.

“It was right, in the face of the issues we had, that I acted decisively to ensure that we had economic stability,” Truss said Friday.

Truss appointed Jeremy Hunt, a former foreign minister, succeeding Kwarteng. In a little more than three months, he will become Britain’s fourth finance minister.

Just three weeks ago, Kwarteng unveiled a “mini budget” that included higher borrowing and tax cuts of £45 billion ($50 billion) in an effort to spur UK economic growth. However, on concerns that the measures will fuel inflation at a time when prices are already growing at their quickest rate in about 40 years, the pound and government bonds plunged. Mortgage rates soared.

The opposition Labour Party leader Kier Starmer said “Liz Truss’ reckless approach has crashed the economy, causing mortgages to skyrocket, and has undermined Britain’s standing on the world stage.” It is time for a change of the government, he insisted.