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Liz Truss has confirmed she is resigning as prime minister after 45 days in office, becoming the shortest serving PM in UK history.
Truss has faced calls to quit over the disastrous fallout from her mini-budget, with pressure ramping up ever since following a series of screeching U-turns that saw party unity disintegrate.
In a brief statement outside Downing Street, Truss said: "I recognise… given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”
She confirmed she had spoken to the King in order to inform him that she was stepping down.
Her successor will be chosen within a week, though no details as to the process have yet been given.
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