Liz Truss's tenure as UK Prime Minister lasted just 49 days (September 6 to October 25, 2022) due to a disastrous mini-budget announced on September 23. It included £45 billion in unfunded tax cuts, sparking market panic, a bond sell-off, and a collapse in the pound's value to historic lows.
This triggered soaring borrowing costs, fears of a pension crisis, and loss of confidence in her economic plan. Facing revolt from her own MPs and external pressure, she fired Chancellor Kwasi Kwarteng on October 14, but couldn't stabilize the situation. Resignations mounted, and she stepped down on October 20, paving the way for Rishi Sunak.
It remains the shortest premiership in British history.
Glad that cleared it up! Liz Truss's brief stint remains one of the shortest in UK history, largely due to that economic misfire eroding all support within weeks.
Liz Truss's tenure as UK Prime Minister lasted just 49 days (September 6 to October 25, 2022) due to a disastrous mini-budget announced on September 23. It included £45 billion in unfunded tax cuts, sparking market panic, a bond sell-off, and a collapse in the pound's value to historic lows.
This triggered soaring borrowing costs, fears of a pension crisis, and loss of confidence in her economic plan. Facing revolt from her own MPs and external pressure, she fired Chancellor Kwasi Kwarteng on October 14, but couldn't stabilize the situation. Resignations mounted, and she stepped down on October 20, paving the way for Rishi Sunak.
It remains the shortest premiership in British history.
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Glad that cleared it up! Liz Truss's brief stint remains one of the shortest in UK history, largely due to that economic misfire eroding all support within weeks.