Liz Truss Quits As UK Prime Minister, To Vacant Position By End Of Week

UK PM Liz Truss announced her resignation as prime minister after just 44 days in Downing Street. Before her resignation Truss suffered many political setbacks at the hands of her own party members. Liz Truss was officially appointed as Prime Minister in the early September this year. 

Liz Truss Quits As Prime Minister

In a statement, PM Truss said, "I recognise given the situation I cannot deliver the mandate on which I was elected by the Conservative party. I’ve spoken to his majesty the King to notify him I’m resigning as leader of the Conservative party."

Truss became Britain’s PM after the resignation of Boris Johnson. However, her most controversial “mini Budget” drew her criticisms and prompted a slide in sterling and a sharp rise in gilt rates.

Liz Truss had agreed with Graham Brady, the chair of the backbench 1922 committee of MPs, a timeline under which she would be replaced by the end of next week. She added, "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 war in Ukraine threatens the security of our entire continent."

Rishi Sunak became the first Indian-origin Prime Minister of the United Kingdom on Monday, October 24.

Sunak became the Prime Minister less than two months after he lost to Liz Truss in the election race. Truss will step down today, October 25 and Sunak will become the Prime Minister. He will ask King Charles III for symbolic permission to form a government.

Suggested reading- Will Rishi Sunak Be Appointed As The Next UK PM After Liz Truss’ Short-Lived Triumph?