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Newly appointed British Prime Minister Liz Truss resigned her position following an economic plan many described as disastrous.

Truss spent only a month and half in office following her official appointment by Queen Elizabeth II on September 6.

Key points

• Her new mini budget plunged the British pound. Though she reversed it and appointed a new chancellor, she faced opposition within her party and the economic market as UK grapples with inflation.
• She is now the shortest-serving prime minister in British history.
• She will remain on as PM until the Conservative Party selects a new party leader next week.
• She served under former PMs Theresa May and Boris Johnson in various capacities. After Johnson resigned, she was the favourite to replace him.

Liz Truss will be the next Prime Minister of Britain after beating Rishi Sunak for the leadership position of the Conservative party.

In her acceptance speech, Truss vowed to press ahead with promised tax cuts and to tackle the rising cost of energy and living.

The big picture

Truss, a close friend of Boris Johnson, is succeeding him after he announced his resignation in July after months of scandals, support for his administration dwindled and many resignations within the party.

Why it matters

Truss was the foreign minister in Johnson’s cabinet and was one of the favorites to win against finance minister Rishi Sunak. She received 81,326 votes while Sunak garnered 60,399 votes.

Truss takes over as Britian faces a high cost of living, industrial unrest, and war in Europe, where Britain has been a strong supporter of Ukraine.

She promised to deliver a great victory for her party in 2024.

What she says

“I will deliver a bold plan to cut taxes and grow our economy. I will deliver on the energy crisis, dealing with people’s energy bills, but also dealing with the long-term issues we have on energy supply.”

What’s next

Johnson will meet with Queen Elizabeth on Tuesday to officially tender his resignation. Truss too will meet with the queen and will be asked by the monarch to form a government.

Johnson said on Twitter, “I know she has the right plan to tackle the cost of living crisis, unite our party and continue the great work of uniting and leveling up our country. Now is the time for all Conservatives to get behind her 100 percent.”