Liz Truss

Announcement follows near-complete evaporation of her political authority after she loses two key ministers and crashes markets.

The Green party will always stand for a fairer, greener country. Both in the parliamentary party and the rank-and-file, they should hold a vote for the single, chosen person. Well, that is the expectation. But if MPs could strong-arm all candidates to agree to accept the verdict of MPs, so that the runner-up waives their right to take it to the membership, the members could be excluded. 1) MPs choosing a leader, and members being given the chance to approve them in a snap ballot. The Tories want to impose austerity 2.0 with no electoral mandate. But Brady has indicated the party does not want this. Or, at least, the MPs could choose a new leader, and that new leader could start forming a cabinet while waiting to be confirmed in post by a members’ ballot. Under Tory party rules, members are meant to elect the leader from a shortlist of two. If [MPs choose the leader] do this, they should probably do something else which sounds pointless, and almost like life in a Communist country, but isn’t. In recent weeks there has been an assumption that MPs might bypass the Tory membership, who are meant to get the final say over the leader. The claim of illiteracy appears to refer to that trip, when Truss was British foreign secretary.

U.K. Prime Minister Liz Truss resigned following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own ...

Sunak is now one of the [favorites to replace Truss](https://www.cnbc.com/2022/10/20/who-could-replace-uk-pm-liz-truss-sunak-mourdant-johnson-hunt.html), along with Hunt, another leadership contender Penny Mordaunt, Defense Minister Ben Wallace and former Prime Minister Boris Johnson. bond markets which balked at the debt-funded tax cuts he put forward. Most of the policies [expected budget update](https://www.cnbc.com/2022/10/17/uks-new-finance-minister-sets-out-.html) on Oct. It remains at the level it was on Sept. [pound](/quotes/GBP=/) was up 0.5% on the day against the [dollar](/quotes/.DXY/) an hour after the announcement, trading at $1.1273, briefly touching a session high. I have therefore spoken to His Majesty the King to announce that I am resigning as leader of the Conservative Party." Opposition parties Labour, the Scottish National Party and the Liberal Democrats called for an immediate general election on Thursday afternoon. The number who have written letters to Brady expressing no confidence in the prime minister was reported to be over 100 by Thursday. The party is now due to complete a leadership election within the next week, faster than the usual two-month period. 23, Truss' finance minister, Kwasi Kwarteng, announced a so-called "mini-budget" which began a turbulent period for U.K. The yields on 30-year, 10-year and five-year gilts (U.K.

U.K. Prime Minister Liz Truss is reportedly locked in discussions with a key member of the Conservative Party who oversees leadership challenges.

Truss is meeting with Graham Brady, the Conservative politician that is in charge of leadership votes and reshuffles. The Conservative Party was considered favorable by 18% of people, versus 45% for the opposition Labour Party. A vote of no confidence is usually held when 15% of the group submits letters, but current party rules state no leadership election or vote of no confidence can be held for one year after a leader assumes office. And yes, I do think it's time for the prime minister to go." "That is also what the Prime Minister wants." The spokesperson also said she had faced a "difficult day" but wanted to continue in the post.

Statement expected shortly after departures of top ministers and evaporation of political authority.

Afterwards, a dozen or more Conservative MPs who rebelled did not even know whether they still had the whip. [announced the scrapping of almost all the tax cuts](https://www.theguardian.com/politics/2022/oct/17/hunt-rips-up-most-of-mini-budget-and-scales-back-energy-prices-plan), and the scaling back of Truss’s flagship scheme to cap energy bills, in an attempt to restore stability. “It’s over,” a source said.

The Conservative Party revolt against Liz Truss's brief tenure as prime minister comes just a few months after it deposed its previous leader Boris Johnson.

“The British people deserve so much better than this revolving door of chaos.” YouGov, the pollster, said that she was the most unpopular prime minister the organization has ever tracked. But her plans, which included billions of unfunded tax cuts, spooked the markets and sent the pound plunging. I spoke to the king and notified him that I was resigning,” she said in front of her residence at Downing Street. The previous record-holder for shortest-serving prime minister was George Canning, who lasted 119 days. Truss has only been in office for 44 days.

Liz Truss said that she had agreed with Graham Brady, the chair of the backbench 1922 committee of MPs, a timeline under which she would be replaced by the ...

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