Liz Truss announces her resignation as British Prime Minister

Liz Truss has announced her resignation as British Prime Minister. In just six weeks after taking office, Truss infuriated most of her own party members. Her proposed economic program shocked the financial markets and increased the cost of living for citizens.

Speaking outside the Downing Street residence, Truss admitted she had not lived up to her party’s credibility, adding that she would resign next week. Truss’ premiership thus became the shortest in the history of modern Britain.

“I have already spoken to the king and notified him that I am resigning as leader of the Conservative Party,” said Liz Truss.

In September of this year, Liz Truss became the fourth Prime Minister of Great Britain in six years. During the election race, she promised a significant tax cut, loosen state control over cultural and social issues.

Last week she was forced to fire her finance minister and her closest political ally, Quasi Kwarteng, and almost completely abandon her economic program. Their unfunded, massive tax cut project led to the collapse of the national currency and government bonds. At the same time, the approval rating of both Truss and the Conservative Party collapsed.

The Conservatives, who make up an undisputed majority in parliament, will elect a new leader by October 28.

The fight is likely to unfold between ex-treasury minister Rishi Sunak and Penny Mordaunt. However, many are also predicting the return of former Prime Minister Boris Johnson, who resigned back in July when his ministers left their posts en masse to force him out of office.

Keith Holton.

Source – Reuters

Translation – Daniil Prilepsky “Moscow Truth”