Liz Truss has resigned as PM after only six weeks in the job
Prime Minister Liz Truss has resigned, just six weeks after she was chosen as leader of the Conservative Party.
She is now the shortest-serving British Prime Minister of all time, lasting just 44 days.
Earlier today, Sir Graham Brady, Chairman of the 1922 Committee, was seen visiting the PM.
Ms Truss appeared on the steps of Downing Street this afternoon to make a statement.
Truss spoke of the economic turmoil facing the country and the low-tax plans that the party had drawn up.
But she said she was ‘unable to deliver the mandate’ that led to her election by the Tory Party.
She then said that she had spoken to King Charles and would be resigning from her position.
A leadership election will take place in the next week, Ms Truss said.
The pound has now begun to rise again, reports suggest.
Jeremy Hunt has said he will not stand for the leadership job.
There have been calls for Truss to step down for several weeks, with the Daily Star even starting a race to see which would last longer – a lettuce, or the Prime Minister.
The lettuce won.
THIS IS A BREAKING NEWS STORY. MORE TO FOLLOW.