Liz Truss has resigned as prime minister and will step down after a week-long emergency contest to find her successor, she announced outside Downing Street on Thursday. Here is his resignation statement:
I took office at a time of great economic and international instability.
Families and businesses were worried about how to pay their bills.
Putin’s illegal war in Ukraine threatens the security of our entire continent.
And our country had been held back for too long by low economic growth.
I was elected by the Conservative party with a mandate to change that.
We delivered the energy bills and the national insurance reduction.
And we set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit.
I acknowledge, however, given the situation, that I cannot fulfill the mandate for which I was elected by the Conservative Party.
I have therefore spoken to His Majesty the King to notify him that I am stepping down as leader of the Conservative Party.
This morning I met the Chairman of the 1922 Committee, Sir Graham Brady.
We have agreed that there will be a leadership election that will be completed next week.
Doing so will ensure that we stay on track to deliver on our fiscal plans and maintain our country’s economic stability and national security.
I will continue as Prime Minister until a successor is chosen.
Thanks.