Liz Truss resigns as Prime Minister

Liz Truss has resigned as leader of the Conservative party and Prime Minister after 45 days in office.

In a statement read outside 10 Downing Street at 13:30, Liz Truss said: “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.”

This comes after a meeting Liz Truss had with the chair of the 1922 committee, Sir Graham Brady, where they agreed to have a leadership election completed within the next week.

Liz Truss will remain as Prime Minister until her successor has been chosen.

Her premiership is the shortest on record followed by George Canning in 1827 who lasted 119 days until his death.