Liz Truss resigns as UK prime minister

44 days in office

clock • 2 min read

Prime Minister Liz Truss has resigned after just 44 days in office, following a month of market chaos and political turmoil.

Delivering a statement outside 10 Downing Street earlier today (20 October), Truss said: "I was elected by the Conservative party with a mandate to change this. We delivered on energy bills and on cutting national insurance. And we set out a vision for a low tax high growth economy that would take advantage of the freedoms of Brexit.  "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. "This morning ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

IHT receipts increase to £5.2bn

IHT receipts increase to £5.2bn

Speculation around gifting and trust taxation rules expected

Isabel Baxter
clock 21 November 2025 • 4 min read
IPT hits £5.52bn in first seven months of 25/26

IPT hits £5.52bn in first seven months of 25/26

Calls to address in Autumn Budget

Cameron Roberts
clock 21 November 2025 • 2 min read
UK inflation down to 3.6% in October

UK inflation down to 3.6% in October

Ahead of Autumn Budget

Linus Uhlig
clock 19 November 2025 • 1 min read