British Prime Minister Liz Truss resigned on Thursday just six weeks after she entered 10, Downing Street.
Speaking outside the door of her Number 10 Downing Street office, Truss accepted that she could not deliver the promises she made when she was running for Conservative leader, having lost the faith of her party.
“I recognise though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party,” she said.
Rishi Sunak, former chancellor, and Penny Mordaunt, leader of the House of Commons, are the two frontrunners, although a number of other candidates could enter the fray.
The 47-year-old outgoing prime minister will stay in charge until her successor is elected by the governing Tory party, with a speeded-up leadership election to be completed by next week.
Truss said she had spoken to King Charles III to notify him of her resignation and also met the 1922 Committee chair Sir Graham Brady, in charge of Tory leadership elections.
"We have agreed that there will be a leadership election to be completed within the next week. This will ensure that we remain on a path to deliver our fiscal plans and maintain our countries economic stability and national security. I will remain as Prime Minister until a successor has been chosen,” added Truss.
Truss, Britain's third female Prime Minister, said she had taken over at a time of great instability but ultimately admitted she had failed in her mission to deliver her economic agenda.
(With inputs from PTI)
