LONDON – Liz Truss became the shortest-serving leader in British political history after she resigned Thursday less than two months into the job.
Her announcement came after her attempt to roll out aggressive tax cuts aimed at spurring economic growth but instead dramatically roiled financial markets, led to unprecedented central bank intervention and drove her poll ratings to the lowest ever recorded for a prime minister.
Truss, 47, lasted 45 days in office. Because Britain elects a party, not a specific leader, she will be replaced by another lawmaker from her ruling Conservative Party. The process to replace Truss will take place within the next week.
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Truss will remain as prime minister until then.
"I came into office at a time of great economic and international instability," Truss said in in a brief statement outside No. 10 Downing Street in London. "I recognize, given the situation, I cannot deliver the mandate to which I was elected by the Conservative Party."
The previous shortest tenure for a British leader was held by Sir Alec Douglas-Home, who served for one year and one day, from 1963 to 1964.