Liz Truss has officially resigned as UK Prime Minister

Liz Truss has announced her resignation as UK Prime Minister today, six weeks after taking on the role. 

This will trigger a new Tory leadership contest, with the next Conservative leader and Prime Minister to be appointed within the coming week. 

Truss' statement came after mounting pressure from the Conservative party for her to step down, following her controversial mini budget, a market crash and the loss of two key ministers.

"I have spoken to His Majesty The King to notify him that I am resigning as leader of the Conservative Party," Truss announced in a brief statement outside 10 Downing Street this afternoon. "This morning I met the chairman of the 1922 Committee Sir Graham Brady. We have agreed that there will be a leadership election to be completed within the next week.

"This will ensure that we remain on a path to deliver our fiscal plans and maintain our countries economic stability and national security. I will remain as Prime Minister until a successor has been chosen." 

This statement comes following a loss of confidence by the Conservative party, with over a dozen MPs calling for her resignation in the past week.

This news will make Liz Truss the shortest-serving prime minister in UK history.

The former foreign secretary beat Rishi Sunak in the Conservative leadership race to succeed Boris Johnson as Tory leader and PM in September, securing 81,326 votes to Sunak's 50,399.

"I am honoured to be elected Leader of the Conservative Party," Truss announced in a statement following the news of her appointment. "Thank you for putting your trust in me to lead and deliver for our great country."

Her statement continued: "I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential."

It is not yet known who is in the running to replace Truss as Prime Minister, but announcements are expected to be made in the coming days.

We will continue to update this story.