Liz Truss has announced her resignation as Prime Minister.
In a statement outside 10 Downing Street delivered just moments ago, she said she "came into office at a time of great economic and international instability," but that she recognises she can no longer carry out the mandate issued by the Conservative Party.
She said she was elected to change the issues that are facing the country, and that she delivered on energy bills and cutting national insurance.
"I recognise though, given the situation, I cannot deliver the mandate on which I was elected leader by the Conservative Party.
"I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party."
A leadership election will be completed within the next week, she confirmed.
Truss will remain as Prime Minister until a successor has been appointed.
More to follow...
