After Six weeks in office, British Prime Minister Liz Truss Announced her Resignation, Just six weeks into the job, Truss faced mounting pressure to quit after she launched an economic policy that triggered a bond market crash.
Liz Truss, Britain’s third female prime minister, announced her resignation Thursday after six turbulent weeks in office. The Conservative Party is bitterly divided by centrist and right-wing factions, and there is no clear consensus candidate to take over.
Truss said a leadership election would replace her within a week. The previous polls took two months and involved multiple rounds of votes among Conservative Party lawmakers.
Truss has only been in office for 44 days, and her plans for billions of unfunded tax cuts have spooked the markets and sent the pound plunging. Truss came to office with a vision for a low-tax, small-government state. Instead, she was forced to jettison her agenda and fire her chancellor.
On Thursday morning, 16 Conservative lawmakers called for Truss to resign as party leader, and Sir Gary Streeter tweeted that the party must urgently rediscover discipline, mutual respect and teamwork.
Lawmaker Charles Walker said he was “livid” and called for a general election, while Labour leader Keir Starmer said the Conservative Party had shown it no longer had the mandate to govern.
ADVERTISEMENTCONTINUE READING BELOW
Liz Truss, Britain’s Prime Minister, announced her resignation on Thursday and confirmed that she would remain PM till a successor is chosen.
Truss has been under mounting pressure to quit after launching an economic policy that triggered a bond market rout. She has therefore notified the King that she is resigning as leader of the Conservative Party.
I met with Sir Graham Brady, and we agreed to hold a leadership election within the next week.
After a senior minister quit her government and the House of Commons erupted into chaos and acrimony on Thursday, Truss was hanging on by a thread.