Liz Truss resigns as British Prime Minister after disastrous economic plan

UK Prime Minister Liz Truss resigned on Thursday after just 45 days in office, following a disastrous and rapidly reversed economic plan that sent the pound plunging and her government into chaos.

Speaking outside her Downing Street office on Thursday, Truss said she could not deliver the promises she made when she was running for Conservative leader, having lost the faith of her party.

“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

” she said in a hastily arranged statement.

Truss, who has been prime minister for just 45 days, said she will remain as prime minister and party leader until a successor is chosen.

The leadership contest should be concluded by October 28, Graham Brady, the chair of the Conservative Party’s 1922 Committee said.

Candidates would require the support of at least 100 Conservative MPs in order to enter the race to replace Truss. Nominations will close on Monday and after a vote by Tory MPs, party members will decide the winner in an accelerated online vote, party managers said.

The opposition Labour party called for an immediate general election.

“The Tories cannot respond to their latest shambles by yet again simply clicking their fingers and shuffling the people at the top without the consent of the British people. We need a general election – now,” opposition leader Sir Keir Starmer said in a statement.

The Conservative Party “has shown it no longer has a mandate to govern,” he added. “After 12 years of Tory failure, the British people deserve so much better than this revolving door of chaos.”