A timeline of key events that led Liz Truss to step down as UK Prime Minister

UK PM Liz Truss stepped down as UK prime minister after just 44 days in office following turmoil sparked by her economic plan. The expected move came soon after Truss conducted a meeting with a Conservative official tasked with assessing whether the PM still has the support of Tory members of Parliament.

UK's political crisis follows the economic crisis, which began after Truss introduced her mini-budget. Take a look at Liz Truss' appointment as the UK PM amid the economic crisis, which ultimately led to the political crisis.

A look at the timeline of events

7th July - UK PM Boris Johnson resigns as prime minister and Tory party leader, deciding to stay on as caretaker prime minister until a new PM is chosen. 

10th July - Liz Truss, who is foreign secretary at the time, enters the Tory party leadership contest, pledging to cut taxes from day one. 

13th July - Liz Truss enters the second round of the leadership race with support of 68 MPs. She is in third place, the total number of candidates at this stage is six. 

20th July - In the next round, Liz Truss acquires the position of 2nd person in the leadership race, with Rishi Sunak still the favourite. The duo will face off against each other in an attempt to persuade Tory party membership to vote for them. 

25th July - First leadership debate is held in which Truss announces her plan to cut taxes again. Sunak opposes her policy, saying it is 'immoral' to pass on debt to future generations. Truss dismisses Sunak's criticism of her economic policies as 'project fear'. 

1st August - At a conservative party hustings, Liz Truss calls leader of SNP and Scotland's First Minister Nicola Sturgeon an "attention seeker", provoking ire from Scottish nationalists and enhancing the sentiment in Scotland that Westminister is arrogant and does not care about Scotland. 

5th September - Conservative leadership results are out - Liz Truss won as she gathered 81,326 votes whilst Rishi Sunak gathered 60,399 votes. 

6th September - Boris Johnson offers his resignation to Queen Elizabeth at the Balmoral Castle. Liz Truss meets the Queen and becomes the prime minister of UK, announces that her plan is to grow the economy by cutting taxes. 

8th September - Queen Elizabeth dies, leading to a 11 day national mourning. All other political plans are set aside. 

23th September - Finance Minister Kwasi Kwarteng introduces his mini-budget at the parliament. Plan includes unfunded corporate tax cuts along with dissolution of a rule that limited the amount of bonus bankers could earn. 

26th September - Chaos in UK's financial markets as cost of borrowing goes up, as Sunak had warned. The UK's central bank, the Bank of England, is forced to intervene and take emergency measures such as bond buybacks. Pound Sterling keeps falling against the US dollar. 

27th September - Truss' economic plan which resulted in capital flight out of UK, receives criticism, with Labour Leader Sir Keir Starmer saying that Truss' government has lost control of the economy. 

1st October - As the Conservative Party conference begins, senior Tory leaders give the conference a miss. Truss says that her plan is right for the country.

2nd October - Opinion polls indicate that Labour would win the elections if they are held in October, adding that there is dissent against Truss' economic plan amongst Tory voters and MPs. 

3rd October - Finance minister announces a U-turn on tax cuts for those earning above £172,000 a year, which is dubbed 'tax cut for the rich' by critics of Truss' economic policies. 

4th October - Truss labels her critics 'anti-growth coalition' and does not give a guarantee that she will not cut benefits that the poorest people in the UK recieve. 

13th October - World financial leaders, including the IMF, criticize Truss' economic plans. Finance minister Kwarteng is in Washington DC where he says he is "not going anywhere" in response to a question to him asking if he will be sacked. 

14th October - Kwarteng cuts his trip to Washington short, meets with Truss and is sacked. Jeremy Hunt is appointed the new finance minister. 

17th October- Jeremy Hunt says that Liz Truss' mini-budget had mistakes and reverses all tax cut plans proposed by Liz Truss initially. 

19th October - Home secretary Suella Breverman, expressed concern about the direction in which the government is heading and quits Truss' government. Liz Truss' premiership descends into further chaos as more Tory MPs openly start saying to her and TV channels that she needs to go and she will go. 

20th October: Liz Truss announces her decision to step down as UK's Prime Minister after just 45 days since taking charge. Truss has become the shortest-serving prime minister in UK history.