BREAKING: U.K. Prime Minister Liz Truss resigns after a failed budget and market turmoil.
On Sept. 23, Truss' finance minister, Kwasi Kwarteng, announced a so-called "mini-budget" which began a turbulent period for U.K. bond markets which balked at the debt-funded tax cuts he put forward.Prime Minister Liz Truss announces her resignation at 10 Downing Street on October 20, 2022 in London, England.LONDON — U.K.
"I recognize 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 announce that I am resigning as leader of the Conservative Party." Just before the meeting, a Downing Street spokesperson told reporters Truss wanted to stay in office.
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