Soon-to-be-former UK Prime Minister Liz Truss now holds the record for the shortest-serving Prime Minister in British history.
After an undeniably disastrous roll-out of her “mini-budget”, which sent British financial markets into chaos and triggered a near meltdown of UK pension plans, whose derivative-hedged investments were suddenly the focus of increasing margin calls, forcing a true liquidity crisis, Liz Truss finally bowed to the inevitable and tendered her resignation to King Charles III.
"I recognize that given the situation I cannot deliver the mandate on which I was elected by the Conservative Party," she said Thursday outside No. 10 Downing St.
"I have therefore spoken to his majesty the king to notify him that I am resigning as leader of the Conservative Party."
She ended the brief statement by saying: "I will remain as prime minister until a successor is chosen."
This perhaps underscores Truss’ signature vulnerability as PM: she never gained the necessary credibility on the economy to push her budgetary revisions through the Parliament. When the markets rebelled at her unfunded tax cuts, she was effectively doomed as PM.
Meanwhile back in Canada.....a scandalous cockwomble continues to cling to power.