Liz Truss resigns as prime minister

Liz Truss has resigned as prime minister after just 45 days in office

Truss said, “We set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit.”

Truss making her the shortest-serving prime minister in British history

For 10 days of her premiership government business was paused following the death of Queen Elizabeth II.

Ms Truss’s political viability became tenuous after her proposals for broad unfunded tax cuts roiled markets and sent the pound’s value plunging. 

Heading Most of the policies were reversed three weeks later by the second finance minister, Jeremy Hunt.2

The party is now due to complete a leadership election within the next week, much faster than this summer’s two-month period. 

Her resignation came after a meeting with Brady, who chairs the 1922 Committee the group of Conservative MPs without ministerial positions