Liz Truss resigns as Shortest-Serving Prime Minister

Liz Truss has resigned as Prime Minister just 44 days after taking over from Boris Johnson.

This makes her the shortest-serving Prime Minister in history. George Canning previously held the record, serving 119 days in 1827 when he died.

In a statement read outside Downing Street, Ms Truss said:

“I came into office at a time of great economic and international instability.

“Families and businesses were worried about how to pay their bills.

“Putin’s illegal war in Ukraine threatens the security of our whole continent.

“And our country had been held back for too long by low economic growth.

“I was elected by the Conservative Party with a mandate to change this.

“We delivered on energy bills and on cutting national insurance. And we set out a vision for a low-tax, high-growth economy – that would take advantage of the freedoms of Brexit.

“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.

“This morning I met the Chair of the 1922 Committee Sir Graham Brady.

“We have agreed there will be a leadership election to be completed in the next week.

“This will ensure 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.”

Liz Truss will remain as PM until her successor is chosen.

Earlier, Conservative Party officials had gathered at Downing Street while a growing number of her own lawmakers called on her to quit.

Her resignation came just a little over 24 hours after she told MPs she was a “fighter, not a quitter”.

It is the latest blow for the Conservatives as Suella Braverman quit as Home Secretary the previous day while Kwasi Kwarteng was sacked by Ms Truss on October 14, 2022.

The attention now turns to who will be her successor.

New Chancellor Jeremy Hunt had been one of the main names suggested to replace Ms Truss, however, Mr Hunt will not stand.

Rishi Sunak is the 11/10 favourite to take over.

Mr Sunak lost to Liz Truss during the Conservative Party leadership campaign but after the latter’s economic plan resulted in the pound plunging to an all-time low, Brits what could have been if Sunak had become Prime Minister instead.

During the Channel 4 debate, Mr Sunak described Ms Truss’ economic plan as a “fairytale”.

And after Ms Truss’ plan failed, many believed Mr Sunak’s prediction had come true.

Penny Mordaunt follows behind at 7/2.

Meanwhile, Labour, the Liberal Democrats and the SNP have all called for an immediate general election.

Labour leader Sir Keir Starmer said: “The Conservative Party has shown it no longer has a mandate to govern.

“After 12 years of Tory failure, the British people deserve so much better than this revolving door of chaos.”

Stating that the Conservatives have left the country “weaker and worse off”, Sir Keir continued:

“The Tories cannot respond to their latest shambles by yet again simply clicking their fingers and shuffling the people at the top without the consent of the British people.

“They do not have a mandate to put the country through yet another experiment – Britain is not their personal fiefdom to run how they wish.

“We must have a chance at a fresh start. We need a general election – now.”