UK: Truss took office only 44 days- Liz Truss resigns as UK Prime Minister

editor October 20, 2022 0

Photo:Reuters

UK Prime Minister Liz Truss resigned on Thursday, bringing an end to a controversial reign amid fallout over her ambitious tax cut policy.

"I recognise, given the situation, I cannot deliver the mandate on which I was elected. I have spoken to King Charles to notify him I’m resigning as leader of the Conservative Party," Truss said.

In an effort to overcome the political crisis, Truss ripped up the mini-budget that rocked the financial markets and appointed Conservative leader Jeremy Hunt in place of Kwasi Kwarteng as chancellor. Following her news conference announcing the revisions, the cost of government borrowing increased and the pound decreased even further.

Without a clear finance strategy to support them, the estimated GBP 45 billion in tax cuts were viewed as devastating for the UK economy at a time when inflation was already skyrocketing.

Her resignation comes a day after Truss said in front of booing opposition MPs that she is a fighter, not a quitter.

By coincidence, Suella Braverman, the home minister, also resigned on the same day as the leader of the Conservative Party.

She had listed worries about the leadership of Prime Minister Liz Truss's administration as one of her reasons for leaving the position.

According to the Daily Mail, a 90-minute Commons yelling session that offered a vivid picture of the turmoil Truss was in preceding Braverman's departure and now Truss's resignation.

Following Miss Truss's decision to abandon her plan to eject Conservative MPs who voted against the government on fracking, Chief Whip Wendy Morton and her assistant Craig Whittaker seemed to resign.

Therese Coffey, the deputy prime minister, and Jacob Rees-Mogg, the business secretary, were accused of "manhandling" MPs through the voting lobbies during the mayhem in the Commons. Both ministers refuted the accusation.

Whittaker was heard telling his colleagues "I'm angry" as government discipline broke down. According to a YouGov poll of Tory members, 69% would choose Boris Johnson to succeed Truss as prime minister. It was Boris's exit, following a slew of scandals, that led to Truss's elevation and her subsequent exit.

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. pic.twitter.com/fi6rtdBRAf
— Liz Truss (@trussliz) October 20, 2022