Why UK Prime Minister Liz Truss Resigned| Eagle’s Sight News

Why UK Prime Minister Liz Truss Resigned Eagle’s Sight News

U.K. Prime Minister Liz Truss Resigned Thursday following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party.

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

“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 is now due to complete a leadership election within the next week, faster than the usual two-month period. Graham Brady, the Conservative politician who is in charge of leadership votes and reshuffles, told reporters he was now looking at how the vote could include Conservative MPs and the wider party members.

Truss was in office for just 44 days, making her the shortest-serving prime minister in British history. For 10 days of her premiership government business was paused following the death of Queen Elizabeth II. Sourced from CNBC.com