A leadership election is set to take place within the next week
Liz Truss has resigned as Prime Minister.
Truss addressed the nation at 1:30pm, saying she will remain in power until a suitable successor takes her place.
Her resignation comes as she admits that she has been unable to keep up the mandate that the Conservative party set out to achieve. Truss was appointed Prime Minister on the 6th of September, meaning she spent just 45 days in office, crowning her the shortest-serving Prime Minister in British History.
In a statement broadcast live today, Truss said that her government managed to deliver on energy bills as well as cutting national insurance.
She said: "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 morning I met the chairman of the 1922 Committee Sir Graham Brady. We have agreed that there will be a leadership election to be completed within the next week."
The election "will ensure that we remain on a path to deliver our fiscal plans and maintain our country's economic stability and national security."
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