Liz Truss gone, Rishi Sunak now leads UK PM race; but infighting within Tory ranks may cast shadow on his dreams

Embattled British Prime Minister Liz Truss on Thursday resigned as the Conservative Party leader saying she can no longer deliver the mandate she was elected on last month, ending her tenure at 10 Downing Street in London after just 45 days in the job following an open revolt against her chaotic leadership.

The 47-year-old outgoing prime minister will stay in charge until her successor is elected by the governing Tory party, with a speeded-up leadership election to be completed by next week.

The embattled leader said she had spoken to King Charles III to notify him of her resignation and also met the 1922 Committee chair Sir Graham Brady, in charge of Tory leadership elections.

"We have 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 countries economic stability and national security. I will remain as Prime Minister until a successor has been chosen,” added Truss.

A downcast Truss, who stepped out of 10 Downing Street with her husband, said she had taken over at a time of great instability but ultimately admitted she had failed in her mission to deliver her economic agenda. Truss was Britain's third female Prime Minister after Margaret Thatcher and Theresa May.

Sunak, who lost out to Truss' now failed tax-cutting agenda in the leadership race last month, is seen as a key contender to step up to the post. But the picture remains extremely uncertain due to deep infighting within Tory ranks.

Loyalists of former prime minister Boris Johnson believe the party should bring him back, given his solid electoral mandate from the 2019 general election. However, Truss' current troubles are themselves reminiscent of how Johnson was dragged out of office and forced to resign in early July amid an open revolt by a growing number of his MPs and ministers.

The latest turmoil comes a day after Suella Braverman's explosive exit from the Cabinet after admitting a breach of the ministerial code by discussing government policy in private emails and a scathing parting attack on her boss.