The Prime Minister of the United Kingdom, Liz Truss, has resigned.
Her resignation was contained in a statement outside the seat of government at Downing Street.
Truss said that her resignation follows her inability to deliver the mandate for which she was elected and had notified the King that she was resigning as Tory leader.
Truss’ government lost credibility after announcing tax cuts that spooked markets and sank the pound to record lows.
There will be Conservative leadership election to be completed within the next week, she said.
Her resignation came after she met the chairman of the 1922 Committee of backbench MPs, as more Tories called for her to quit.
Truss’s premiership came under renewed pressure after the Home Secretary, Suella Braverman, resigned on Thursday, citing inability of the government to deliver on its promises.
Her resignation is also coming 45 days after she took office, making her go down in history as the shortest serving British Prime Minister
