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In Pics | As Liz Truss resigns after 45 days as UK prime minister, a look at her tumultuous time in office

British Prime Minister Liz Truss resigned on October 20 -- bowing to the inevitable after a tumultuous 45 day term in office in which her policies triggered turmoil in financial markets and a rebellion in her party obliterated her authority. Truss stepped down after she was forced to abandon many of her economic policies and lost control of Conservative Party discipline.

Moneycontrol News | October 21, 2022 / 12:16 IST
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Liz Truss spent just six weeks as premier in 10 Downing Street. In this time, Truss’ government sent the pound plummeting, was bailed out by the Bank of England, made a U-turn on her entire policy programme and fired her finance minister. A look at Truss’ tumultuous time in office. (Image: News18 Creative)
Liz Truss spent just six weeks as premier in 10 Downing Street. In this time, Truss’ government sent the pound plummeting, was bailed out by the Bank of England, made a U-turn on her entire policy programme, and fired the finance minister. A look at Truss’ tumultuous time in office. (Image: News18 Creative)
2/14
On September 23, Liz Truss’ finance minister, Kwasi Kwarteng, delivered a mini-Budget that sent shockwaves through the UK’s economy. (Image: News18 Creative)
On September 23, Liz Truss’s finance minister, Kwasi Kwarteng, delivered a mini-Budget that sent shockwaves through the UK’s economy. (Image: News18 Creative)
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After the mini-budget British stocks and bonds plummeted. The pound collapsed to historic lows against the dollar. (Image: News18 Creative)
After the mini-budget, British stocks and bonds plummeted. The pound collapsed to historic lows against the dollar. (Image: News18 Creative)
4/14
On September 26, the pound briefly fell to its weakest level against the US dollar on record. (Image: News18 Creative)
On September 26, the pound briefly fell to its weakest level against the dollar on record. (Image: News18 Creative)
5/14
The pound hit an all-time low against the dollar after tax cuts in Kwasi Kwarteng’s mini-budget. (Image: News18 Creative)
The pound hit an all-time low against the dollar after tax cuts in Kwasi Kwarteng’s mini-budget. (Image: News18 Creative)
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A look at top five net reduction of permanent taxes since 1972. (Image: News18 Creative)
A look at top five net reductions of permanent taxes since 1972. (Image: News18 Creative)
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The mini-budget rocked financial markets which led to a revolt within Truss’ own Conservative Party. (Image: News18 Creative)
The mini-budget rocked financial markets which led to a revolt within Truss’s own Conservative Party. (Image: News18 Creative)
8/14
The International Monetary Fund (IMF) slammed the UK chancellor’s mini-budget which introduced tax cuts through heavy borrowing. (Image: News18 Creative)
The International Monetary Fund (IMF) slammed the UK chancellor’s mini-budget which introduced tax cuts through heavy borrowing. (Image: News18 Creative)
9/14
On April 19, IMF warns that UK is set for the slowest growth among all G7 countries in 2023. (Image: News18 Creative)
On April 19, IMF warned that the UK is set for the slowest growth among all G7 countries in 2023. (Image: News18 Creative)
10/14
Kwasi Kwarteng, Truss’s chancellor of the Exchequer, presented his min-budget on September 23. The pound began to fall against the dollar. (Image: News18 Creative)
Kwasi Kwarteng, Truss’s chancellor of the Exchequer, presented his mini-budget on September 23, sparking a slide in the pound against the dollar. (Image: News18 Creative)
11/14
On October 12, Truss’ government refused to reverse its vast tax cuts or reduce public spending despite the market turmoil. (Image: News18 Creative)
On October 12, Truss’s government refused to reverse its vast tax cuts or reduce public spending despite the market turmoil. (Image: News18 Creative)
12/14
On October 17, Jeremy Hunt, who replaced Kwarteng, reversed nearly all of the mini-budget. Liz Truss on October 20 resigned as the UK prime minister with the shortest time in office – 45 days. (Image: News18 Creative)
On October 17, Jeremy Hunt, who replaced Kwarteng, reversed nearly all of the mini-budget. Liz Truss on October 20 resigned as the UK prime minister with the shortest time in office – 45 days. (Image: News18 Creative)
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Britain, once a glorious imperial power where, as they used to say, the sun never sets, is now a country that’s fast losing its cachet, economically as well as geopolitically. (Image: News18 Creative)
Britain, once a glorious imperial power where, as they used to say, the sun never sets, is now a country that’s fast losing its cachet, economically as well as geopolitically. (Image: News18 Creative)
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Recently, India – a former British colony – surpassed the UK to become world’s 5th biggest economy. (Image: News18 Creative)
Recently, India – a former British colony – surpassed the UK to become world’s 5th biggest economy. (Image: News18 Creative)

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