LIZ Truss has conceded defeat and said she will step down as Prime Minister.
The Tory leader presided over chaos in her short time in office, being forced to junk her flagship economic programme and the sacking of her friend and chancellor Kwasi Kwarteng.
It will make her among the shortest-serving prime ministers in UK history and, even without a general election, the Conservatives will be on their third prime minister since December 2019.