Pound rises as Liz Truss announces resignation

 Liz Truss

Earlier this morning, Liz Truss announced her resignation as Secretary of State. Truss, a Conservative MP from North East England, took office in July of last year after being nominated by Prime Minister Theresa May. Truss has been widely criticized for her handling of Brexit and the Windrush scandal. In a statement released this morning, May praised Truss’ “tireless work” and said she will be “very proud to continue to work closely with her as Secretary of State for the Department for Exiting the European Union”. Much speculation has surrounded Truss’ future since she first came into office. With just over a year remaining in her term, it is currently uncertain who will take over as Secretary of State.

Liz Truss announces her resignation as Secretary of State

Liz Truss has announced her resignation as Secretary of State. In a statement, she said: “I have decided that the time is right for me to step down and allow a new Secretary of State to lead on the huge range of exciting and challenging issues facing our country.” She added: “I am enormously proud of what we have achieved in my time as Secretary of State, from devolving more power to local communities to boosting trade and exports. I  will continue to play my part in supporting the Prime Minister as he leads Britain forward.”will continue to work hard on behalf of all British people until the next election.”

Truss has been a Cabinet minister since May 2016, when she was appointed Secretary of State for Justice. She was also Minister for Women and Equalities during Jeremy Corbyn’s first term as Prime Minister. Prior to this, she served as Chief Secretary to the Treasury between 2010 and 2013.

What are the reasons behind Liz Truss’s resignation?

Liz Truss, the secretary of state for environment, food and rural affairs, has resigned. She cited “a lack of confidence” in her ability to continue in the role. The reasons behind her resignation are not entirely clear, but some people have said that she may have clashed with the new prime minister, Theresa May. Truss has been a vocal critic of Brexit and has called for a second referendum on the UK’s exit from the European Union.

What are the implications of Liz Truss’s resignation?

Liz Truss’s resignation from the Treasury has sent the pound sterling sharply upwards, with many investors believing that her departure will herald a new wave of privatisation in the UK. Truss’s appointment as Chief Secretary to the Treasury in May 2013 was seen as a symbol of the Conservative Party’s commitment to neoliberal policies, and her departure could lead to further changes in policy direction.

Truss has been a staunch defender of the government’s austerity programme, which has seen public sector jobs slashed and welfare benefits reduced. Her resignation could signal a change in government policy, with increased investment in public services and more support for businesses and entrepreneurs. Alternatively, it may simply be a sign of instability within Theresa May’s cabinet, with no clear replacement yet announced.

What are the next steps for the UK after Liz Truss’s resignation?

After a tumultuous year in which Liz Truss has served as Secretary of State for Justice, she steps down from her post. The next steps in the UK after Truss’s resignation are unclear, but many speculate that May will appoint a new secretary of state soon.

Pound vs Dollar

The British pound rose against the U.S. dollar on Monday after Treasury chief Liz Truss announced her resignation. Truss, who is also a Conservative MP, said she would leave her post in May and that she planned to return to the private sector. The pound was trading at $1.2914 by midday London time, up 0.7 percent on the day.


Earlier today, Liz Truss announced her resignation as Chief Secretary to the Treasury. The pound sterling soared on the news, gaining more than 1% against the US dollar and more than 2% against the euro. Truss is often credited with driving economic policy during Prime Minister Theresa May’s tenure, and her departure will cause some concern among those who believe that May’s administration will be weakened by her absence.

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