Liz Truss announced her resignation as UK Prime Minister on Thursday, October 20, 2022. With only 45 days in office, she becomes the UK Prime Minister with the shortest time in office. Along with her resignation as the UK PM, she also resigned as the leader of the Conservative Party.

An election for the Conservative Party’s new leadership will be conducted within the upcoming week. Labour Party leader Keir Starmer, who leads the Opposition, also demanded an immediate general election to elect a new government, following the public announcement of Truss’s resignation.

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At the UK Parliament yesterday, Truss was questioned by Keir Starmer, who asked “Why is she still here” after listing all the policies that PM Truss was forced to drop. Starmer stated that the economic credibility of the UK had diminished after Liz Truss was appointed. In response to the questions and accusations, Truss quickly responded, “I am a fighter and not a quitter. I have acted in the national interest to make sure that we have economic stability”.

Not even 24 hours later, during her resignation speech, which was a national broadcast, Truss said “given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”

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At a time of continuous price rise, Truss could not cut taxes and keep the promises she had made before coming to power. In the past few weeks, she was forced to fire her chancellor Kwasi Kwarteng, and drop all her economic policies as her plans of tax-cut to control price-rise led to a crash in the stock market and currency. The British pound dropped to an all-time low against the US Dollar. 

Following Truss’s resignation, it is being predicted that Indian-origin MP Rishi Sunak might have a high chance of being elected at next week’s Conservative Party elections.