Liz Truss will remain the UK Prime Minister till the finalisation of her successor. By resigning within six weeks after her appointment, Liz Truss becomes the shortest serving Prime Minister of the United Kingdom.
While announcing her resignation, Liz Truss on Thursday said she brought down by her economic programme that saw a huge repercussions in markets. Her move also divided her Conservative Party just six weeks after she was appointed.
She also said that the Conservative Party elected her to change the current situation of instability. She said her government delivered on energy bills and reduced National Insurance. Her government aimed for a vision of low tax, high growth economy that would help the country in taking advantage of the freedoms of Brexit.
Below is the full text of her speech in Downing Street:
“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." said Liz Truss in her speech.
“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"
“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." she added.
“This morning I met the chairman of the 1922 Committee, Sir Graham Brady. We've 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." said Lizz Truss at the end of her speech.
(With agency inputs)
