British Prime Minister, Liz Truss resigned on this Thursday, after just 45 days in office.
Truss resignation came following a failed tax-cutting budget that rocked financial markets and led to a revolt within her Conservative Party.
In a statement outside Number 10 Downing Street, London, Truss said: “We set out a vision for a low-tax, high-growth economy that would take advantage of Brexit".
“I recognize 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 announce that I am resigning as leader of the Conservative Party".
Her resignation follows a meeting with Graham Brady, the Conservative politician that is in charge of leadership votes and reshuffles. Brady chairs the 1922 Committee — the group of Conservative MPs without ministerial positions who can submit letters of no confidence in the Prime Minister.
Just before the meeting, a Downing Street spokesperson told reporters, Truss wanted to stay in office.
During the hour the meeting lasted, the number of MPs publicly calling for Truss to step down reached 17. The number who have written letters to Brady expressing "No Confidence" in the Prime Minister was reported to be over 100 by Thursday.
After the meeting, Truss told journalists outside Number 10 Downing Street that, she and Brady had agreed the Conservative Party would complete a leadership election within the next week.
Liz Truss succeeded Boris Johnson as Prime Minister on 6 September, 2022 after defeating Rishi Sunak in the Torry Party leadership contest and meeting the Queen at Balmoral.
Truss will go down as the shortest serving United Kingdom Prime Minister in modern political history.
