In a short statement to the media, UK Prime Minister Liz Truss on Thursday announced an end to her time in office — after just over six weeks in the job.
Truss has faced mounting criticism after a tax-cutting mini budget unraveled spectacularly last month, sending markets and the pound sterling into freefall.
“I came into office at a time of great economic and international instability,” said the outgoing prime minister. 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 has been held back for too long by low economic growth.”
“We set out a vision for a low tax, high growth economy that would take advantage of the freedoms of Brexit,” Truss said. “I recognize, given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”
The head of the 1922 Committee of Conservative Party lawmakers Graham Brady had visited the prime minister at her 10 Downing Street residence and office on Thursday. The committee arranges contests for a change of leader, and Brady’s role is to gauge whether or not the prime minister still has the support of Tory members of parliament.
A number of Conservative lawmakers say they have submitted letters of no confidence in Truss to Brady, whose committee sets the rules for selecting and changing the party’s leader. An unnamed member of the committee on Thursday told UK broadcaster ITV that the odds were against Truss lasting the day as prime minister.