UK prime minister Liz Truss has resigned after just 44 days in office.
The shock departure comes following a political storm over her mini budget. Much of the budget had to be scrapped after a political backlash, and her Chancellor was fired. Last night another major cabinet minister, the Home Secretary, also quit.
Truss came to power after Boris Johnson was removed from office after only two years as Prime Minister. Ahead of Liz Truss’s statement the official lectern was wheeled outside 10 Downing Street.
“I recognise though given the situation I cannot deliver the mandate on which I was elected by the Conservative party,” Truss said in her announcement.
Truss’ resignation outside Downing Street, was due to the evaporation of her political authority, which triggered market crashes, followed by the loss of two key ministers, and eventually losing the confidence of majority of her own MPs.
Over a dozen Tory MPs have openly called for Truss’ resignation.
Conservative MP for Rushcliffe, Ruth Edwards, was the latest MP to call on Truss’ resignation. In a letter published on ConservativeHome, she says it is “not responsible for the party to allow her to remain in power”.
Edwards also urged Truss to “step aside, go, and let someone who is up to the task take on the great privilege and responsibility of leading our great country and party”.
Truss recently apologised for her “mistakes” and vowed to remain prime minister, adding “I will lead the Conservatives into the next general election.”
“Cabinet ministers are rallying around Ms Truss but a growing number of her MPs believe her time is up,” the BBC reported, adding that “her attempts to reassert her authority were torpedoed by the resignation of the home secretary and farcical scenes after a Commons vote on Wednesday.”
Truss took on the role as UK prime minister on September 26. She is the shortest-serving prime minister in UK history.
Truss said she would continue as prime minister until a successor is chosen.
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.
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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