Liz Truss had on September 5 defeated Rishi Sunak in the Conservative Party leadership contest to become new Prime Minister of Britain.
New Delhi: Newly elected UK Prime Minister Liz Truss on Thursday resigned from her post after her tax-cut plan backfired. Truss’ resignation came just 44 days after she took charge as UK PM by defeating Rishi Sunak. After announcing her resignation, she said that the party is supposed to choose her successor in a week’s period.
With the resignation in a short span, Liz Truss became shortest-ruling prime minister in British history. Her brief tenure witnessed a chaotic situation when she announced a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout. Though she got elevated for UK PM post after promising an all-out push for growth, her program proved unpalatable to financial markets as both the pound and gilts tanked amid concerns about how she’d pay for her economic plans.
Liz Truss had on September 5 defeated Rishi Sunak in the Conservative Party leadership contest to become new Prime Minister of Britain. Truss had defeated Sunak by a margin of nearly 20000 votes to replace Boris Johnson who had earlier lost the majority.
Liz Truss, a senior cabinet minister in the UK government, became the female who took oath as Prime Minister of the United Kingdom. Her victory was confirmed after 170,000 online and postal votes cast by Tory members.
After the victory, Liz Truss had thanked people for supporting her for the top post. She said, “I am honoured to be elected Leader of the Conservative Party. Thank you for putting your trust in me to lead and deliver for our great country. I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential.”
