British Prime Minister Liz Truss Resigns (+Resignation Speech)

By Modupe Gbadeyanka

The Prime Minister of the United Kingdom, Ms Liz Truss, has resigned from office just about six weeks after she was elected to lead the Conservative Party.

She succeeded Mr Boris Johnson, who stepped down as the Conservative Party leader.

Ms Truss agreed to quit the office on Thursday to become the shortest-serving PM of the UK.

The British leader has been under fire over her mini-budget, which proposed a heavy tax cut. This led to the exit of Mr Kwasi Kwarteng as the Chancellor of the Exchequer and the appointment of Mr Jeremy Hunt as his replacement.

Mr Hunt, upon assuming office, rolled out almost all the economic agenda of Ms Truss. The tussle between the two has affected UK’s economy and has left the prime minister to announce her resignation today.

In her speech today, the PM said she would leave office after a new leader is chosen, hopefully, next week.

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

“I will remain as Prime Minister until a successor has been chosen,” she said.

Below is her full resignation speech:

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.