Liz Trusswho succeeded Boris Johnson resigned as British Prime Minister just over a month after taking office.

Her resignation ends a contentious reign amid the fallout from her ambitious tax cut policies.

Liz Truss has only been in office for 45 days – the shortest tenure of any UK prime minister. The second shortest-serving prime minister was George Canning, who served 119 days before dying in 1827.

Truss had ripped up the mini-budget that was sending financial markets into turmoil, replacing Kwasi Kwarteng as chancellor with Conservative leader Jeremy Hunt.

Treasury bond costs rose and the pound fell further after their press conference announced the changes.

In a statement outside Downing Street, Ms Truss said: “I took office at a time of great economic and international instability.”

“Families and businesses were worried about how to pay their bills.” Ms Truss added that she was “elected with a mandate to change that,” saying, “We met the energy bills.”

Truss acknowledged that she “cannot fulfill the mandate” for which she was elected and that there will be a leadership election that “will be completed within the next week.”