From the Washington post:
LONDON—U.K. Prime Minister Liz Truss said she would resign, after a risky plan to cut taxes and boost spending caused turmoil on financial markets, prompting her to backtrack and causing her political authority to disintegrate.
Ms. Truss is set to become the shortest-serving prime minister in British history and the third Conservative Party leader pushed out of office in as many years. She said a leadership election would be held within the next week to find her replacement.
“I recognize that given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party,” she said standing outside Downing Street on Thursday.
The resignation comes months after rebel lawmakers forced out Boris Johnson as prime minister following a series of scandals.
Ms. Truss’s successor will have to navigate a political crisis and economic turbulence, with Britain dealing with stagflation—the combination of slow growth and high inflation. The new leader is almost sure to face a long winter of discontent, with real wages forecast to fall, labor unions promising a series of strikes and many voters demanding elections.
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lmao, I saw this coming from a mile away
LONDON—U.K. Prime Minister Liz Truss said she would resign, after a risky plan to cut taxes and boost spending caused turmoil on financial markets, prompting her to backtrack and causing her political authority to disintegrate.
Ms. Truss is set to become the shortest-serving prime minister in British history and the third Conservative Party leader pushed out of office in as many years. She said a leadership election would be held within the next week to find her replacement.
“I recognize that given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party,” she said standing outside Downing Street on Thursday.
The resignation comes months after rebel lawmakers forced out Boris Johnson as prime minister following a series of scandals.
Ms. Truss’s successor will have to navigate a political crisis and economic turbulence, with Britain dealing with stagflation—the combination of slow growth and high inflation. The new leader is almost sure to face a long winter of discontent, with real wages forecast to fall, labor unions promising a series of strikes and many voters demanding elections.
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lmao, I saw this coming from a mile away