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Liz Truss' economic programme had sent shockwaves through the markets and divided her Conservative Party
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Updated : Oct 21, 2022, 01:35 PM IST
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Liz Truss on Thursday resigned as the UK Prime Minister amid the turmoil sparked by her economic plan. Her economic programme had sent shockwaves through the markets and divided her Conservative Party just six weeks after she was appointed over Rishi Sunak.
Truss resigned after 45 days in power, the shortest term for a British Prime Minister. She said she has told King Charles she is resigning as leader of the Conservative Party.
Speaking outside the door of her Number 10 Downing Street office, Truss accepted that she could not deliver the promises she made when she was running for Conservative leader, having lost the faith of her party.
“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,” she said.
“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.”
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.
