IP - UK Prime Minister Liz Truss announced her resignation as leader of the Conservative Party on Thursday and said she would continue as Prime Minister until her successor has been chosen.

Iran PressEurope: U.K. Prime Minister Liz Truss became the shortest-serving Prime Minister in the history of Britain when she resigned Thursday following a failed tax-cutting budget that rocked financial markets and led to a revolt within her own Conservative Party.

The news comes as a flurry of Tory MPs called for the PM to go this morning and wrote no-confidence letters to the 1922 Committee.

Addressing presspersons outside 10 Downing Street, Truss said, "I came into office at a time of great economic and international instability. Our country was held back for too long by low economic growth." 

Liz Truss has announced her resignation after just 44 days as Prime Minister and will become the U.K.'s shortest-serving PM.

Her departure follows yesterday's resignation of Home Secretary Suella Braverman and the sacking of Kwasi Kwarteng as Chancellor of the Exchequer after a series of humiliating budget u-turns.

Liz Truss took office on 6 September 2022 ( six weeks ago). It came after a lengthy Conservative leadership race between her and Rishi Sunak, sparked when Boris Johnson announced his resignation at the start of July.

Announcing her resignation on Thursday in number 10 downing Street, She said that the Conservative party elected her with a mandate to change things.

Truss said that they delivered on energy bills and cut national insurance.

"We set our vision for a low tax high-growth economy that would take advantage of Brexit. I recognise though, I cannot deliver the mandate on which I was elected by the Conservative party," she said.

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