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Liz Truss resigns as prime minister after Tory revolt | Liz Truss resigns as prime minister after Tory revolt |
(32 minutes later) | |
Watch: Watch Liz Truss step down as PM | Watch: Watch Liz Truss step down as PM |
Watch: Watch Liz Truss step down as PM | Watch: Watch Liz Truss step down as PM |
Liz Truss has dramatically resigned as prime minister after just 45 days in the job. | Liz Truss has dramatically resigned as prime minister after just 45 days in the job. |
The PM said her successor will be elected in a Tory leadership contest, to be completed in the next week. | The PM said her successor will be elected in a Tory leadership contest, to be completed in the next week. |
Tory MPs urged Ms Truss to go after her government was engulfed by political turmoil, following the ditching of most of her economic policies. | Tory MPs urged Ms Truss to go after her government was engulfed by political turmoil, following the ditching of most of her economic policies. |
Ms Truss was elected by the Tory membership in September, but she lost authority after a series of U-turns. | Ms Truss was elected by the Tory membership in September, but she lost authority after a series of U-turns. |
In a brief speech outside Downing Street, Ms Truss said the Conservative Party had elected her on a mandate to cut taxes and boost economic growth. | |
But given the situation, Ms Truss said: "I recognise that I cannot deliver the mandate on which I was elected by the Conservative Party." | But given the situation, Ms Truss said: "I recognise that I cannot deliver the mandate on which I was elected by the Conservative Party." |
Labour leader Sir Keir Starmer and other opposition parties called for an immediate general election following Ms Truss's resignation speech. | |
Ms Truss said she would remain in post until a successor formally takes over as party leader and is appointed prime minister by King Charles III. | Ms Truss said she would remain in post until a successor formally takes over as party leader and is appointed prime minister by King Charles III. |
Jeremy Hunt - who was appointed chancellor last week - has said he will not stand in the leadership contest to be the next prime minister. | Jeremy Hunt - who was appointed chancellor last week - has said he will not stand in the leadership contest to be the next prime minister. |
A quick guide to Liz Truss | A quick guide to Liz Truss |
Liz Truss's resignation speech in full | |
Sir Graham Brady, the chairman of the 1922 backbench committee of Conservative MPs, said it would be possible to conclude a leadership ballot by Friday next week. | |
He said he expected Conservative members to be given a say on who succeeds Ms Truss, but would set out further details later. | |
Ms Truss will become the shortest-serving PM in British history when she stands down. | |
In her speech, Ms Truss said she entered "office at a time of great economic and international instability", as war rages in Ukraine and living costs skyrocket. | In her speech, Ms Truss said she entered "office at a time of great economic and international instability", as war rages in Ukraine and living costs skyrocket. |
The prime minister said her government delivered on providing support for energy bills and reversing a rise in National Insurance, a tax on workers and companies. | |
But Ms Truss's resignation comes after a period of political and economic turbulence, which forced her government to ditch tax cuts that sent financial markets into a tailspin. | |
The prime minister sacked close political ally Kwasi Kwarteng as chancellor and appointed Mr Hunt as his successor as she attempted to calm the markets. | |
At Prime Minister's Questions on Wednesday, Ms Truss insisted she was a "fighter, not a quitter" after Labour's leader asked her why she had not resigned. | |
But more instability followed, when Suella Braverman quit as home secretary and a vote on fracking fell into disarray, with some Tory MPs accused of bullying. |