To deliver her resignation speech, British Prime Minister Liz Truss stood behind a lectern outside her offices and residence at Downing Street and said she could not “deliver the mandate for which I have been elected by the Conservative Party.”
The moment points to the utter chaos brought upon Britain by the Conservative Party government, leaving open the question of not only who will lead the country, but in what direction — for the economy, foreign policy and the jittery stock, currency and bond markets.
Truss said a new prime minister will be selected by her Conservative Party lawmakers in the coming week. But the process by which the decision will be made remains unclear. The party is bitterly divided by warring centrist and right-wing factions, and there is no clear consensus candidate to take over.Truss is the shortest-serving prime minister in British history. That record was previously held by George Canning, who served for 119 days, from April to August 1827, before he died.
The Conservative Party will pick a new leader on Oct. 28, an accelerated timeline for a leadership selection that may give party members little role in the decision — while most of the British public sits on the sidelines. Truss’s ouster reflects divisions within her party, and Conservative power brokers are divided on who should replace her. Among the names under discussion: Rishi Sunak, a former finance minister who lost to Truss in August, Leader of the House of Commons Penny Mordaunt; Defense Secretary Ben Wallace; and former Prime Minister Boris Johnson, who only moved out of Downing Street six weeks ago.
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