British Prime Minister Liz Truss resigns
Prime Minister Liz Truss has resigned as UK prime minister and leader of the Conservative Party in a statement outside Downing Street
She said she could not deliver the mandate on which she was elected as Tory leader and had notified the King that she was resigning
A Conservative leadership election will be completed within the next week, she said
“I will remain as prime minister until a successor has been chosen,” she said
Her departure after 45 days in office makes her the shortest-serving PM in UK history
Truss’s premiership has been in turmoil since her mini-budget last month, which rocked markets and was later scrapped by her new chancellor
The resignation of her home secretary on Wednesday and a chaotic vote in the Commons sealed her fate
Truss’s statement in full
Here’s the full statement Liz Truss delivered outside Downing Street confirming her resignation as prime minister.
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.
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’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.
I will remain as prime minister until a successor has been chosen.