Liz Truss has announced her resignation as United Kingdom (UK) Prime Minister.
Speaking outside Downing Street, she said she had told King Charles she was resigning as leader of the Conservative Party.
Liz Truss is continuing her statement outside Number 10.
In front of dozens of reporters she says she came into office at a time of “great economic and international instability”.
She added: “I recognise… given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”
Liz Truss goes on to say that she met with 1922 Committee chairman Sir Graham Brady today.
They agreed there will be a leadership election within the next week, adding that she will remain as prime minister until a successor is chosen.
Truss replaced Boris Johnson who resigned three months ago.
