U.K. Prime Minister Liz Truss resigns

U.K. Prime Minister Liz Truss has resigned after just 44 days in office, becoming the shortest-serving PM in British history.

"We set out a vision for a low-tax, high-growth economy that would take advantage of Brexit… I recognize though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party," said Truss, whose own party revolted against her after her unsuccessful tax-cutting budget.

"I have therefore spoken to His Majesty the King to announce that I am resigning as leader of the Conservative Party."

From The Washington Post:

This is the most chaotic moment in British politics in the post war era history. Britons were shocked with the speed of the government's unraveling. It was a humbling transfer of power and no one is sure what direction Britain will take now — in foreign or economic policy.

Truss said a new prime minister will be selected by her Conservative Party in the coming week — but how? The Tory party is bitterly divided by centrist and right-wing factions and there is no clear consensus candidate to take over.

Truss, the country's third female prime minister, was unable to save her embattled premiership even though she ditched her entire economic plan and replaced two key Cabinet posts over the past week.

Truss said that there would be a leadership election to replace her "to be completed within the next week." She said that she would "remain as prime minister until a successor has been chosen."

And from CNBC:

During the hour the meeting lasted, the number of MPs publicly calling for Truss to step down reached 17. The number who have written letters to Brady expressing no confidence in the prime minister was reported to be over 100 by Thursday.

Truss said outside Downing Street that she and Brady had agreed the party would complete a leadership election within the next week. …

Opposition parties Labour, the Scottish National Party and the Liberal Democrats called for an immediate general election on Thursday afternoon. Labour leader Keir Starmer said: "The Conservative Party has shown it no longer has a mandate to govern."

… Just before the meeting, a Downing Street spokesperson told reporters Truss wanted to stay in office.