I faced 'great economic and international instability' – Outgoing UK PM

On Thursday, October 20, Liz Truss, the UK Prime Minister announced her resignation after 44 days in office. Speaking outside the No. 10 Downing Street, Truss indicated that she cannot fulfil the mandate to which she was elected, hence her decision to resign. She explained that she came into office at a time of “great economic and international instability”. She added, “I recognise… given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.” Liz Truss noted that she had already informed King Charles but that she will remain in office until a successor is elected. The Conservative Party leader's resignation comes a few days after she sacked Chancellor of the Exchequer Kwasi Kwarteng. Kwarteng was sacked on October 14 amidst the government’s tax cuts that are believed to have sparked financial market turmoil. In a letter reacting to his dismissal, he said “You have asked me to step aside as your Chancellor, I have accepted. “When you asked me to serve as your Chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. However, your vision of optimism, growth and change was right," his letter read. PEN/SARA