I took office at a time of great economic and international instability. Families and businesses were worried about how they would pay their bills. Putin’s illegal war in Ukraine threatens the security of our entire continent. And our country had been held back for too long by low economic growth. Elected by the Conservative party with a mandate to change it. We delivered on the energy bills and the national insurance cut. And we set out a vision of a low-tax, high-growth economy that would take advantage of the freedoms of Brexit. I recognize, however, given the situation, that I cannot give the mandate by which I was elected by the Conservative party. I have therefore spoken to His Majesty the King to inform him that I am resigning as leader of the Conservative party. This morning I met the chairman of the 1922 Commission, Sir Graham Brady. We have agreed that there will be a leadership election which will be completed next week. This will ensure that we stay on track to implement our fiscal plans and maintain our country’s economic stability and national security. I will remain as prime minister until a successor is chosen. Thanks.
