Liz Truss Resigns From Her Position As The PM: Here's All You Need To Know

In reaction to skyrocketing prices brought on by the Russia-Ukraine war, a pricey plan to control household energy costs was unveiled during Liz Truss' first week in office.

Within 45 days of taking office in 10 Downing Street, Liz Truss announced her resignation as prime minister of the United Kingdom, marking a significant reversal in British politics. Her term, which was the shortest in British political history, was characterised by several departures and turns.

UK PM Liz Truss Resigned

"I recognise... given the situation I cannot deliver the mandate on which I was elected by the Conservative Party," Liz Truss stated in her letter of resignation.

Just one day earlier, Liz Truss had sworn to maintain her position of authority, declaring herself "a fighter and not a quitter."Her resignation came after last night's dramatic events in the House of Commons about a vote on fracking. Following that, calls for Liz Truss to resign grew. A leadership election will be held and finished within the upcoming week, according to Liz Truss.

Here are 5 things to know about her resignation-

• In reaction to skyrocketing prices brought on by the Russia-Ukraine war, a pricey plan to control household energy costs was unveiled during Liz Truss' first week in office. The plan was forgotten for ten days when Queen Elizabeth II passed away.
• The new UK cabinet's Chancellor of the Exchequer, Kwasi Kwarteng, revealed a "mini-budget" in September that included the cost of the energy plan for $67 billion over six months, but no plans to collect money.
• He announced significant borrowing and new tax cuts, particularly ones for top incomes in the UK, in place of specific measures, which caused the Pound to plummet and the political fire the UK cabinet endured. Kwarteng promised "more to come on tax cuts" two days later.
• After hasty late-night meetings, Liz Truss was compelled to reverse course on her intended reduction in the top rate of income tax in the face of criticism and outcry. Kwasi Kawarteng was eventually let go after 38 days at work.
• After a disagreement over immigration with Truss and the finance minister, Jeremy Hunt, the crisis for Truss did not end; her home minister Suella Baverman resigned, citing "serious concerns" with the government.

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