Liz Truss quits as UK PM after 45 days in office, becomes Britain's shortest-serving premier

Liz Truss announced that she is resigning as the UK PM as she could not deliver the promises she made when she was running for Conservative leader.

New Delhi: Liz Truss on Thursday (October 20, 2022) announced that she is resigning as the UK PM, just 45 days after staying in office, making her Britain's shortest-serving premier. Truss was facing an open revolt against her leadership as an increasing number of Conservative Party MPs called for her to resign amid mounting chaos at the heart of the UK government. In just six weeks as prime minister, she was forced to abandon almost all her policy programme after it triggered a bond market rout and a collapse of her approval ratings and those of her Conservative Party.

Speaking outside her Number 10 Downing Street office and residence, she 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," Truss 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," she added.

"I will remain as prime minister until a successor has been chosen. Thank you," Truss said.

In full: Prime Minister @TrussLiz’s resignation statement. pic.twitter.com/UXTWBRyfLr — UK Prime Minister (@10DowningStreet) October 20, 2022

Before Truss, George Canning previously held the record for the shortest-serving prime minister in Britain. He served 119 days in 1827 before he died.

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.

Since last Friday, Truss lost two of the four most senior ministers in government, sat expressionless in parliament as her new finance minister ripped up her economic plans and faced howls of laughter as she tried to defend her record.

She had been fighting for political survival since September 23, when her then-finance minister and close ally, Kwasi Kwarteng, announced a "mini-budget" of vast, unfunded tax cuts that sent shockwaves through financial markets.

Truss became Britain's fourth prime minister in six years after being elected in September to lead the Conservative Party by its members. She promised tax cuts funded by borrowing, deregulation and a sharp shift to the right on cultural and social issues.

British politics, notably, has become volatile since the 2016 vote to leave the European Union unleashed a battle for the direction of the country.

Now, all eyes are now on former chancellor Rishi Sunak, who lost to Truss in the leadership race last month, to be parachuted in to take charge.

(With agency inputs)