Liz Truss resigns as UK prime minister after just 44 days

Truss now holds the shortest premiership for any prime minister in history

Elliot Gulliver-Needham
clock • 1 min read

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

Truss' time as prime minister began after former prime minister Boris Johnson resigned from office, triggering a Conservative Party leadership race, in which she beat ex-chancellor Rishi Sunak to the role.  Just two days into her leadership Queen Elizabeth II died, causing a national period of mourning. This postponed the government's announcements of the introduction of the Energy Price Cap scheme just as the cost of living crisis surged in importance. In her first major move as prime minster, the government announced its Mini Budget on 23 September, in which former chancellor Kwa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read
Bank of England cuts interest rates by 25bps to lowest level in 18 months

Bank of England cuts interest rates by 25bps to lowest level in 18 months

First MPC meeting of the year

Sorin Dojan
clock 06 February 2025 • 3 min read