Liz Truss, British Prime minister has announced her resignation after a chaotic 44 days in office, becoming the shortest-serving Prime minister in British history.
She lost the confidence of Tory MPs and the public and oversaw economic turbulence.
Speaking from a lectern in Downing Street, Ms Truss said she had told the King she was resigning as the leader of the Conservative Party as she recognised she ‘cannot deliver the mandate’ which Tory members gave her little over six weeks ago.
READ ALSO: BREAKING: British Prime Minister, Liz Truss resigns
Read the statement in full
‘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 has been held back for too long by low economic growth.
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‘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 chairman of the 1922 Committee, Sir Graham Brady. We have agreed that there will be a leadership election to be completed within the next week.
‘This will ensure that 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.’
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