UK PM Liz Truss resigns

Liz Truss, the prime minister of Britain, announced her resignation from her position on October 20. After she implemented an economic strategy that caused a bond market meltdown barely six weeks into her employment, she faced increasing demand to resign.

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Liz Truss, the prime minister of Britain, announced her resignation from her position on October 20. After she implemented an economic strategy that caused a bond market meltdown barely six weeks into her employment, she faced increasing demand to resign.

With her statement, Truss is on track to hold the record for the shortest tenure as prime minister of the UK.

Speaking to reporters outside her office at Number 10 Downing Street, Truss acknowledged that after losing the confidence of her party, she could not keep the commitments she made when campaigning for Conservative leader.

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“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.

“This morning I met the chairman of the 1922 Committee, Sir Graham Brady. We’ve 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.”

Truss will continue to serve as prime minister, though, until conservatives choose a replacement, which might take a week.

Suella Braverman, Truss’ former interior minister, resigned on Wednesday, less than a week after she ousted her finance minister. “Serious concerns” about the government were voiced by Braverman.