UK Prime Minister Liz Truss announced her resignation as leader of the Conservative Party on Thursday and said she would continue as Prime Minister until her successor has been chosen.
Addressing presspersons outside 10 Downing Street, Truss said, “I came into office at a time of great economic and international instability. Our country was held back for too long by low economic growth.”
She added that the Conservative party elected her with a mandate to change things. Truss said that they delivered on energy bills and cutting national insurance. “We set our vision for a low tax high-growth economy that would take advantage of Brexit. I recognise though, I cannot deliver the mandate on which I was elected by the Conservative party,” she said.
Truss said she has notified the King about her resignation as leader of Conservative Party. She added she met with Chairman of 1922 committee Graham Brady and they have agreed to complete leadership election within next week. “This will ensure that we remain on a path to deliver our fiscal plans and maintain our country's economic stability and national security. I will remain as PM until a successor has been chosen,” Truss said.
Truss met with Brady, Chief of the 1922 committee at her residence on Thursday and to understand the mood of Tory members. Truss, who assumed office only six weeks ago defeating Indian-origin Rishi Sunak in the leadership election had to replace two keyministers within the period. Truss had to withdrew all tax cut measures announced in the mini-budget which caused a economic turmoil. She replaced then treasury chief Kwasi Kwarteng with veteran Tory member Jeremy Hunt.
On Wednesday, Suella Braverman resigned as Home Secretary lambasting Truss saying she had concerns about the direction of this government. Suella was replaced by former Cabinet minister Grant Shapps.
