Liz Truss Resigns As UK Prime Minister

• Liz Truss said on Thursday she was resigning as British prime minister just six weeks after she was appointed. Her resignation came early as she was brought down by an economic programme that sent shockwaves through financial markets last month and divided her Conservative Party.
• Speaking outside the door of her Number 10 Downing Street office, Truss accepted that she could not deliver the promises she made when she was running for Conservative leader, having lost the faith of her party.
• A leadership election will be completed within the next week to replace Truss, who is the shortest-serving prime minister in British history. George Canning previously held the record, serving 119 days in 1827 when he died.
• Appointed on Sept. 6, Truss was forced to sack her finance minister and closest political ally, Kwasi Kwarteng, and abandon almost all her economic programme after their plans for vast unfunded tax cuts crashed the pound and British bonds. Approval ratings for her and her Conservative Party collapsed.

(Source: Reuters)