Britain’s Prime Minister Liz Truss has resigned to her role today. She gave her resignation after 45 days in power – the shortest term for any UK PM. She has taken this decision saying she failed to deliver the mandate on which she was elected by her party.
Her economic programme sent massive shockwaves through the markets, dividing her Conservative Party within six weeks of her appointment over Rishi Sunak.
For the unversed, Liz Truss came to power in the starting of September month this year promising an all-out push for growth. But her program proved unpalatable to financial markets as both the gilta and pound tanked amid concerns about how she would pay for her economic plans.
Truss in one of her last addresses as the PM 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. 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. We set out a vision for a low tax, high growth economy that would take advantage of the freedoms of Brexit,” she added.
Meanwhile, her resignation leaves the ruling Conservative Party badly damaged, languishing more than 30 points behind Labour in the polls after 12 1/2 years in power.