Hunt not running for PM
Jemery Hunt has confirmed he won’t be standing to be the next Tory leader and PM.
The likelihood is that we will see Rishi Sunak or Penny Mordaunt as the next PM.
Markets do not respond to resignation
The markets have had a muted response to Liz Truss quitting. The pound rose initially in the immediate aftermath of the statement before settling back at around $1.12.
Liz Truss shortest serving UK PM
Truss has been in office for just 45 days – the shortest of any UK prime minister.
Compared to the second shortest PM George Canning who still saw a whopping 119 days before dying in 1827.
Keir Starmer calls for general election after PM quits
Keri Starmer has issued a response to the news PM Liz Truss has resigned. The Labour leader has called for a general election ‘now’ saying it now needs to go back to the public.
‘Fighter not a quitter’ – Truss
Only yesterday Liz Truss (at PMQs) said she was a ‘fighter not a quitter’ – but today she quit. But then again, this is a week of U-turns.
And U-turns may be what Liz Truss is remembered for.
Liz Truss resigns
Liz Truss has resigned after six weeks in office.
Her speech was short and to the point. Saying she cannot deliver the mandate on which she was elected on.
She and the 1922 Committee chair agreed that there will be a new PM by next week.
Truss said she had spoken to the King earlier.
This will be the third new PM in a few months.
Downing Street statement from Liz Truss expected at 13:30
We’ve just had it confirmed that there will be a statement given at Downing Street in about 10 minutes.
We’re expecting the prime minister to speak.
It comes as more and more MPs have called for her to step down, and after a meeting with senior Tory party figures.