Liz Truss has resigned as Prime Minister today after just 44 days in power, delivering a statement that stirred further political turmoil.
On Thursday afternoon, the British leader emerged from 10 Downing Street with her husband to make the announcement. Her departure marks the end of a six-week premiership that began last month with the death of the Queen.
Another Conservative Party leadership election will be held within the next week, making her successor the third PM of 2022.
Here is Liz Truss' resignation statement in full.
The PM said: "I came into office at a time of great economic and international instability," she began. "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 and on cutting national insurance.
"And we set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit."
She continued: "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 have agreed that there will be a leadership election to be completed within the next week.
"This will ensure that we remain on a path to deliver our fiscal plans and maintain our country’s economic stability and national security.
"I will remain as Prime Minister until a successor has been chosen. Thank you."
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