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Leadership Blues: British PM Liz Truss resigns after disastrous economic plan

Ex-British Prime Minister Liz Truss

*’I recognise that given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party,’ says British Prime Minister Liz Truss

Isola Moses | ConsumerConnect

British Prime Minister Liz Truss resigned Thursday, October 20, 2022, after barely six weeks in office.

ConsumerConnect learnt Truss’ sudden resignation was sequel to a disastrous and rapidly reversed economic plan that sent the country’s Pound plunging and her government into chaos.

Following her formal appointment by late Queen Elizabeth II September 6, 2022, Truss is now regarded as the shortest-serving Prime Minister in British history. She is now by far the shortest-serving Prime Minister in British history, and will be remembered as one of the most calamitous, agency report said.

It is recalled the previous holder of this record, George Canning, lasted 119 days in the early 19th century; Truss announced her resignation after 44.

A leadership contest to decide the next leader of the ruling Conservative Party, who will by default become the next prime minister, is now underway and will conclude in the next week.

The opposition Labour Party called for an immediate election.

In a brief, unrepentant speech outside No. 10 Downing Street Thursday, she stated: “I recognise that 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.”

The former PM said: “I will remain as prime minister until a successor is chosen.”

Attention is already turning to what happens next in the United Kingdom (UK), report said.

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