By Azuka Christopher
THUR, 20 OCT, 2022-theGBJournal| Liz Truss, the UK Prime Minister has resigned after more than a dozen Conservative MPs publicly called on her to step down. She will however remain as Prime Minister until a successor is chosen.
Liz Truss announced her resignation outside 10 Downing Street following meeting with the Chairman of the 1922 Committee of backbench MPs, Sir Graham Brady, as more Conservation MPs called for her to quit.
‘’I cannot deliver the mandate on which I was elected by the Conservative Party,’’ Ms Truss told hordes of reporters and not-too-shocked British people who had been troubled by her consistent flip-flop on economic policies-including forcing mortgage rate up and U-turning on energy price guarantee.
Her leadership came under more pressure after the home secretary resigned and the defeat on fracking policy Wednesday. Truss fired her Chancellor Kwasi Kwarteng last week after serving for just 38 days, making him the shortest serving Chancellor of Exchequer in British history. Kwarteng is credited with triggering the market chaos.
Kwarteng’s proposed package of more $45 billion of debt-fueled tax cuts sent the market in chaos and set off the chain of events that have now led to the resignation of Lizz Truss.
Jeremy Hunt, former foreign secretary and Conservative leadership candidate, replaced Kwarteng and immediately shredded the Kwarteng’s policies.
Truss said after the meeting that they agreed there will be a leadership election within the next week.
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