Liz Truss is out as British Prime Minister after serving just 44 days in a chaotic tenure marked by the economic turmoil that experts claim has left the British people poorer.
Truss administration met its end after her policies failed to turn around the UK economy, which seems to have destabilized after the Brexit vote.
In her resignation speech, Truss said she came into office in a period of “great economic and international instability compounded by “Putin’s illegal war in Ukraine,” which threatened the security of the European continent.
She conceded that she had not solved the problems.
“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 notify him that I am resigning as leader of the Conservative Party,” Truss said.
Making History amid failure
But despite her short tenure in office, Truss will go down as a pivotal British Prime Minister for several reasons.
First: she has served the shortest term of all British Premiers, having occupied the 10th Downing Street address for under seven weeks.
Second: She is the third woman to serve as British Prime Minister, after Margaret Thatcher, known as the Iron Lady and Theresa May.
Third: Truss was the last British Prime Minister to serve Under Queen Elizabeth II and the first Prime Minister to usher-in King Charles III’s reign.
Fourth: As if in irony, Truss’s short tenure is the exact opposite of Queen Elizabeth II, who was the longest-serving Monarch in the world.
Fifth: Truss is Thatcher’s opposite bracket in the prime minister’s office, bookending the longest and the shortest tenure. Thatcher was the longest-serving PM, ruling from 1979 to 1990, an administration that lasted 4226 days–96 times longer than Truss.
By resigning, Truss had bookmarked UK history as the only nation where the longest and shortest-serving prime ministers are women.
Several candidates are lining up to replace Truss. They include British Conservative MP Penny Mordaunt and ex-Finance Minister Rishi Sunak, an Englishman of Indian descent. Former Prime Minister Boris Johnson’s name has also come up as a possible replacement.
The conservative party must elect a new leader by Oct. 28th.
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 notify him that I am resigning as leader of the Conservative Party. Liz Truss British Prime Minister.
Here’s Truss’s 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 has 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 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 notify him that I am resigning as leader of the Conservative Party.
This morning, I met the chairman of the 1922 Committee, Sir Graham Brady. We’ve agreed that there will be a leadership election to be completed within the next week.
This will ensure that 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.”