By Zuko Komisa
Liz Truss resigns, after 44 days as UK Prime Minister
Just 44 days after replacing Boris Johnson as prime minister, Liz Truss announced her resignation.
She will be the shortest-serving PM in British history.
The election for a new Conservative leader, who will take possession of Number 10, is scheduled for next Friday.
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Speaking in public in front of the entrance to her office and house at Number 10 Downing Street, Truss acknowledged that she had lost the confidence of her party and could no longer keep the commitments she made when running for Conservative leader.
“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.”
“I will remain as prime minister until a successor has been chosen. Thank you.”
FLASH: UK Prime Minister Liz Truss announced she will RESIGN from office. Truss is set to become the shortest-serving prime minister in British history pic.twitter.com/muUeSiG1IB
— Steve Hanke (@steve_hanke) October 20, 2022
Earlier this week she fired the Minister of Finance following financial and political turmoil over the announcement of new economic policies and massive tax cuts.
Listen to the analysis on her decision here:
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