Liz Truss resigned after six weeks so the next Prime Minister could be decided on Monday.

British Prime Minister Liz Truss announced her resignation just six weeks after taking office today. Speaking in Downing Street, the UK Prime Minister stated that she would remain Prime Minister until a successor is chosen to serve as Tory leader.

Liz Truss took office last month with the hopes and promises of reviving the British economy and putting it on a long-term path to success.

It did not go as planned.

Instead, Truss’ tenure was marred by turmoil as her economic policies jeopardized the country’s financial stability, sending the pound to record lows, causing havoc on bond markets, and raising mortgage rates for millions of people.

 Truss took office amid a cost-of-living crisis, a war in Ukraine, and the lingering effects of the COVID-19 pandemic. But the decision to announce 105 billion pounds ($116 billion) in tax cuts and spending increases without providing details on how she would pay for it alarmed investors, who warned of soaring public debt.

This eroded trust in the government’s ability to pay its bills and raised concerns about a new prime minister’s economic credentials.

The Conservative Party is desperate to end Liz Truss’ disastrous premiership with a quick leadership election to give the winner a chance to overcome an unprecedented poll deficit.

According to the rules announced on Thursday, a maximum of three Conservative MPs will be able to run. The next leader could be chosen as early as Monday.