UK PM Liz Truss resigns after 45 days in office

20 October, 2022 | Pranay Lad

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According to sources, Liz Truss resigns as the Prime Minister of the United Kingdom, making it the shortest term in Britain's history.

After her economic plan shocked the markets and split her Conservative Party just six weeks after taking office, Liz Truss announced her resignation as prime minister on Thursday.

The results of the leadership election will be known within the coming week.

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 while campaigning for Conservative leader.

“I realise, nonetheless, that the circumstances prevent me from carrying out the Conservative Party’s mandate for my election. As a result, I have informed His Majesty the King that I am stepping down as the head of the Conservative Party, she stated.

“I saw Sir Graham Brady, the 1922 Committee’s chairman. We’ve decided that the following week will see the conclusion of the leadership election. This will guarantee that we stay on track to carry out our fiscal objectives and uphold our nation’s economic stability and security.

In her first six weeks in office, Truss was forced to renounce nearly all of her policy agenda after it sent the bond market into a tailspin and caused her and the Conservative Party’s approval ratings to plummet.

One Conservative legislator told the media agency late on Wednesday that the disorderly events in parliament “cannot carry on like this.”

With her resignation now the question arises, is Rishi Sunak the next Prime Minister of the United Kingdom?