After a mere 44 days as Prime Minister, Liz Truss announced her resignation in a statement made on Downing Street, making her the shortest serving Prime Minister, ever.
“I recognise though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party,” she said.
A leadership election is to be completed within the next week.
The British politician had previously held cabinet offices under Prime Ministers, David Cameron, Boris Johnson and Theresa May.
Truss was appointed to be Prime Minister on October 6, 2022. She was previously Secretary of State for Foreign, Commonwealth and Development Affairs from 2021-2022.
Since last week, she had lost two of the four senior ministers in government, upon her election as Prime Minister, she vowed tax cuts funded by borrowing, deregulation and a sharp shift to the right on cultural and social issues.
The economy soon after Truss was appointed Prime Minister slid into recession, Tobias Ellwood, head of parliament’s defence select committee, said Truss needed to run until October 31, the day when Hunt is due to set out how he will rebuild the public finances.
Any implosion before then, he said, would lead to yet more pressure on the pound.
With Liz Truss announcing her resignation today, the effects are yet to be observed.
Truss recently apologised for her “mistakes” and vowed to remain prime minister, adding “I will lead the Conservatives into the next general election.”
Candidates to replace Truss include former finance minister Rishi Sunak, Penny Mordaunt, Jeremy Hunt, Ben Wallace, Boris Johnson or Suella Braverman.
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