UK PM resigns after 44 days in office

The Prime Minister of the United Kingdom Liz Truss resigned Thursday in the wake of a failed tax-cutting budget that rocked financial markets and led to a revolt within her own Conservative Party.

 

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

 

“I recognize 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 announce that I am resigning as leader of the Conservative Party.”

 

The party will have to elect a new leader within the next week, faster than the usual two-month period. 

 

Truss was in office for 44 days, making her the shortest-serving prime minister in the country’s history.