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

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read