Prime Minister Liz Truss has resigned as UK prime minister in a statement outside Downing Street

She said she could not deliver the mandate on which she was elected as Tory leader and had notified the King that she was resigning

There will be a Conservative leadership election to be completed within the next week, she said

“I will remain as Prime Minister until a successor has been chosen.”

Her departure after 45 days in the office makes her the shortest-serving PM in UK history.

Truss’s premiership has been in turmoil since her mini-budget last month, which rocked markets and was later scrapped by her new chancellor

The resignation of her home secretary on Wednesday and a chaotic vote in the Commons sealed her fate