Liz Truss resigns as UK Prime Prime Minister

Truss, 47, resigned after only 45 days in office, making her the shortest-serving prime minister in British history.

Digital Desk: Liz Truss resigned as Prime Minister of the United Kingdom after a brief and chaotic tenure in which she announced a massive package of unfunded tax cuts before unwinding the majority of it in the face of a market rout.

Truss, 47, resigned after only 45 days in office, making her the shortest-serving prime minister in British history. She took office in early September promising an all-out economic push, but her plan proved unappealing to financial markets, with the pound and gilts plummeting amid concerns about how she'd pay for her economic plans.

Her departure has seriously impacted the ruling Conservative Party, which is now polling more than 30 points behind Labour after 12 1/2 years in power. Her successor will be the party's fifth premier in less than seven years, since the Brexit referendum in 2016 ushered in a period of unprecedented political chaos in the United Kingdom.

Truss stated that the party intends to name her successor within a week and that she will remain prime minister until then.