Truss resigns

[rebbonk]

She's gone and a one week leadership election.

[rebbonk]

Pound jumps as Liz Truss resigns

The pound, FTSE 100 and gilts all jumped as Liz Truss resigned as Prime Minister after just a month and a half.

In a statement outside 10 Downing Street Truss said that she had met King Charles to inform him of her decision.

"Given the situation I cannot deliver the mandate on which I was elected by the Conservative Party," she said.

She will be the shortest-serving prime minister in UK history (and failed to outlast the Daily Star's lettuce), though she will stay in the role as the party chooses another leader – who will be the third PM of the year (the most since 1834, when there were four).

Sterling jumped from US$1.118 this morning to US$1.13, while gilt yields across the spectrum continued the falls that began since Jeremy Hunt was made chancellor and overturned most of the changes Truss had made since entering Number 10.

Hunt said he will still deliver his promised fiscal statement at the end of October, and would not stand in the race to be the next PM.

Source: https://www.proactiveinvestors.co.uk/companies/news/995979/pound-jumps-as-liz-truss-resigns-995979.html

[dutchman]

failed to outlast the Daily Star's lettuce