The Bank of England has stepped in to prevent the collapse of some pension funds because of the plans announced on Friday.
He said on a trip to Northern England that the mini budget was absolutely essential in resetting the debate around growth and focusing on delivering better growth outcomes for our people.
Without growth, you're not going to generate the income and tax revenue to pay for the public services we want to see. He said that we're very focused on making sure that the cost of living pressures can be withstood by ordinary people right up and down this country.
This is the first time Mr Kwarteng has made a public comment on his mini-budget since Sunday, when he hinted that there were more tax cuts to come.
Since the pound has touched a record low against the dollar and UK borrowing costs have soared, prompting the Bank of England to buy $65 billion of government bonds in a bid to calm markets.
The Treasury had turned down an independent forecast of the impact of government's plans on the economy after Prime Minister Liz Truss spoke to a number of BBC radio stations on Thursday morning, which came after the Prime Minister said that the plans had made the market reaction worse, despite the fact that the tax cuts outlined in the mini-budget were the right plan.