Liz Truss has resigned as the Prime Minister of the United Kingdom
UK Prime Minister, Liz Truss has resigned from her post after spending only 45 days in office, making her the shortest-serving PM in British history. Ms. Truss assumed office on September 6, 2022 amid economic turmoil, high inflation rates, worker agitations, among others. Almost a week ago, Chancellor of the Exchequer, Kwasi Kwarteng was relieved from his post amid fallouts from the mini-budget presented before the UK parliament. The budget which has since sparked financial turmoil in the markets also caused a revolt among Conservative lawmakers in the UK. Speaking at a press conference at No 10 Downing Street on Thursday afternoon, Truss said she came into office at a time of “great economic and international instability”. Read her full speech below: I came into office at a time of great economic and international instability. Families and businesses were worried about how to pay their bills. Putin’s illegal war in Ukraine threatens the security of our whole continent. And our country had been held back for too long by low economic growth. I was elected by the Conservative party with a mandate to change this. We delivered on energy bills and on cutting national insurance. And we set out a vision for a low tax, high growth economy that would take advantage of the freedoms of Brexit. 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. This morning I met the Chair of the 1922 Committee, Sir Graham Brady. We have agreed there will be a leadership election to be completed in the next week. This will ensure we remain on a path to deliver our fiscal plans and maintain our country’s economic stability and national security. I will remain as prime minister until a successor has been chosen. Thank you.
UK Prime Minister, Liz Truss has resigned from her post after spending only 45 days in office, making her the shortest-serving PM in British history. Ms. Truss assumed office on September 6, 2022 amid economic turmoil, high inflation rates, worker agitations, among others. Almost a week ago, Chancellor of the Exchequer, Kwasi Kwarteng was relieved from his post amid fallouts from the mini-budget presented before the UK parliament. The budget which has since sparked financial turmoil in the markets also caused a revolt among Conservative lawmakers in the UK. Speaking at a press conference at No 10 Downing Street on Thursday afternoon, Truss said she came into office at a time of “great economic and international instability”. Read her full speech below: I came into office at a time of great economic and international instability. Families and businesses were worried about how to pay their bills. Putin’s illegal war in Ukraine threatens the security of our whole continent. And our country had been held back for too long by low economic growth. I was elected by the Conservative party with a mandate to change this. We delivered on energy bills and on cutting national insurance. And we set out a vision for a low tax, high growth economy that would take advantage of the freedoms of Brexit. 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. This morning I met the Chair of the 1922 Committee, Sir Graham Brady. We have agreed there will be a leadership election to be completed in the next week. This will ensure we remain on a path to deliver our fiscal plans and maintain our country’s economic stability and national security. I will remain as prime minister until a successor has been chosen. Thank you.
