KEY POINTS
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.
On Sept. 23, Truss' finance minister, Kwasi Kwarteng, announced a so-called "mini-budget" which began a turbulent period for U.K. bond markets which balked at the debt-funded tax cuts he put forward.
Most of the policies were reversed three weeks later by the second finance minister, Jeremy Hunt.
Prime Minister Liz Truss announced her resignation at 10 Downing Street on October 20, 2022 in London, England.
BELOW IS WHAT PRIME MINISTER LIZ TRUSS SAID AS SHE RESIGNED.
We delivered on energy bills and on cutting national insurance.
We have continued to stand with Ukraine and to protect our own security.
And we set out a vision for a low tax, high growth economy – that would take advantage of the freedoms of Brexit.
I recognise however that, 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.
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.
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