Barely six weeks after she emerged as the British Prime Minister Liz Truss announced on Thursday that she is resigning from the position.
This came just days after her new finance minister reversed virtually all of her planned tax cuts, sweeping away a free-market fiscal agenda that promised a radical policy shift for Britain but instead plunged the country into weeks of economic and political turmoil.
Speaking outside 10 Downing Street, she said she had come to realize that she “cannot deliver the mandate on which I was elected by the Conservative Party”.
She also said, “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 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 country’s economic stability and national security. I will remain as Prime Minister until a successor has been chosen.”
Her departure, after only six weeks in office, was a shockingly rapid fall from power, and throws her Conservative Party into further disarray, following the messy departure of Boris Johnson from Downing Street over the summer.
Truss took over from Boris Johnson as UK PM on September 6, 2022.
