Liz Truss resigns as PM and triggers fresh leadership election

Liz Truss has resigned as prime minister and will step down after a week-long emergency contest to find her successor, she has announced outside Downing Street.

It follows a turbulent 45 days in office during which Truss’s mini-budget crashed the markets, she lost two key ministers and shed the confidence of almost all her own MPs.

Her statement came after she met Graham Brady, the chair of the 1922 Committee of backbench Tory MPs at Downing Street, followed by her deputy PM, Thérèse Coffey, and the party chair, Jake Berry....