LONDON, Oct 20: British Prime Minister Liz Truss resigned on Thursday. She
had succeeded scandal-hit Boris Johnson as Prime Minister on September 6 after
defeating Indian origin Rishi Sunak, who was the Finance Minister in Johnson's
Cabinet, in the Conservative Party leadership contest. Ms Truss has become the
shortest-serving British Prime Minister.
A new Prime Minister is likely to be elected next Friday. Ms Truss will remain
as PM until her successor is chosen. Chairman of the 1922 committee Sir Graham
Brady said a leadership election would be held by October 28 so that a new PM
is in office for the October 31 final budget statement.
The names like Penny Mordaunt, Rishi Sunak, Kemi Badenoch and even Boris Johnson
and new Chancellor Jeremy Hunt are being talked about.
In a statement read outside 10 Downing Street, London, Ms Truss said: "I came
into office at a time of great economic and international instability. Families
and businesses were worried about how to pay their bills ... We delivered on
energy bills. 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 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."
The previous day during the turmoil over her economic policies in the House
of Commons, Ms Truss had said she is a "fighter, not a quitter".
Meanwhile, Labour leader Sir Keir Starmer called for a general election.
Ms Truss' trouble began with the mini-budget presented a month ago. Chancellor
Kwasi Kwarteng announced the mini-budget, effecting cuts in taxes and Government
spending cuts which was as per Ms Truss' plans. But he was told to quit when
markets went awry as a consequence. Truss later said sorry and reversed the
cuts, which was announced by the new Chancellor Jeremy Hunt. The turmoil continued
in the House. Several of her own Conservative Party members demanded her resignation.
Yet it was thought even Wednesday she would survive the crisis.
