Liz Truss quits as Prime Minister

Liz Truss has announced she's stepping down as Prime Minister after just 45 days in office making her on course to become the shortest serving Prime Minister in history.

In the statement outside Downing Street Liz Truss said she had told the King that she will resign as leader of the Conservative Party after she battled an open revolt from Conservatives demanding her departure.

In a statement outside No 10 she said: “I recognise… given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”

Sir Graham Brady, chairman of the Tory 1922 Committee, said he expected the new leader to be in place by Friday, October 28.

Liz Truss will stay on until a new leader is chosen

Liz Truss has said she will stay on as Prime Minister until a successor is chosen via a leadership election to be held within the next week.

Speaking in Downing Street, she said: “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 plan and maintain our country’s economic stability and national security.

“I will remain as Prime Minister until a successor has been chosen.

“Thank you.”

She recently sacked her Chancellor Kwasi Kwarteng and yesterday the Home Secretary Suella Braverman resigned.

Many politicians are now calling for a general election, including Ed Davey the Lib Dem leader.

Nicola Sturgeon said a general election is a democratic imperative:

Labour leader Keir Starmer tweeted to say the country needs a fresh start

Electing a new leader

Sir Graham Brady, chairman of the Tory 1922 Committee, said he expected the new leader to be in place by Friday, October 28.

He told reporters: “I have spoken to the party chairman Jake Berry and he has confirmed that it will be possible to conduct a ballot and conclude a leadership election by Friday the 28th of October.

“So we should have a new leader in place before the fiscal statement which will take place on the 31st.”

What Liz Truss's Cabinet looked like

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