Liz Truss resigns as UK prime minister (bbc.co.uk)

Article summary

Liz Truss has resigned as UK prime minister and leader of the Conservative Party after 45 days in office, making her the shortest-serving PM in UK history. Her resignation comes after a tumultuous period, including a chaotic night in the Commons and a failed economic plan. A contest to find the next Tory leader and PM has begun, with candidates needing the backing of 100 MPs by Monday. The new leader is expected to be in office by next Friday.

Main themes

• UK politics
• economic crisis
• government instability
• tax cuts
• borrowing and debt
• market confidence
• global economic comparison

What commenters say

• The UK's economy crashed due to unfunded tax cuts and lack of confidence in the government's fiscal position.
• The US can run high debt-to-GDP ratios due to the dollar being the world's reserve currency, unlike the UK.
• Proposing borrowing to cover top-bracket tax rate cuts is risky and can lead to market panic, as seen in the UK.
• The UK government ignored warnings and concerns from various groups, including lobbyists and Whitehall staff, before implementing the failed economic plan.
• The appointment of loyal ministers rather than capable ones contributed to the government's poor decision-making.
• The current economic climate, including high inflation and the energy crisis, made the tax cuts and borrowing a particularly bad idea.
• The UK's situation is different from the US, where similar policies have been implemented without the same level of crisis.
• The government's actions were seen as irresponsible and reckless, leading to a loss of confidence in the market and the government's ability to manage the economy.