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

Industry reacts: FCA statement on vulnerable customers

Industry reacts: FCA statement on vulnerable customers

Protection’s part to play

Cameron Roberts
clock 07 March 2025 • 3 min read
FCA's vulnerability findings flag lack of tailored training and understanding

FCA's vulnerability findings flag lack of tailored training and understanding

Many firms had taken positive action but ‘areas for improvement remain’

Isabel Baxter
clock 07 March 2025 • 6 min read
More work needed to tackle UK 'inflationary pressure' as BoE members warn of further market upheaval

More work needed to tackle UK 'inflationary pressure' as BoE members warn of further market upheaval

Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read