In an address outside No.10 Downing Street on Thursday, UK PM Boris Johnson confirmed he will be stepping down as leader of the ruling Conservative Party, and will continue to serve as PM until the Tories elect a new leader, and therefore, a new Prime Minister.

Boris Johnson, who served as Mayor of London from 2008 to 2016 and rose to further prominence as a leading campaigner for Brexit before leading the Conservative Party to electoral victory in December 2019, is stepping down after a spate of senior resignations within his Cabinet over the past 24 hours which have prevented the outgoing PM from leading Government. The resignations stem from anger at the way Mr Johnson has dealt with a number of scandals.

“I’ve agreed with Sir Graham Brady, the chairman of our backbench MPs, that the process of choosing that new leader should begin now and the timetable will be announced next week. And I’ve today appointed a Cabinet to serve, as I will, until a new leader is in place,” Mr Johnson said in a televised address.

Just yesterday, the PM vowed to continue fighting on. While the saying goes: one week is a long time in politics, the same can often be said for some 24-hour news cycles and political developments.

Featured Image:

Boris Johnson addresses delivering his resignation speech on Thursday



EU Commission adopts ‘right to repair’ proposal

March 24, 2023
by Arnas Lasys

The proposal would grant consumers rights beyond the legal warranty

$1.3 million worth of nickel owned by JPMorgan Chase was just bags of rocks

March 21, 2023
by Arnas Lasys

The nickel was bought by the bank from the London Metals Exchange

UBS to buy ailing Credit Suisse in emergency rescue deal

March 20, 2023
by Robert Fenech

The move was welcomed by banking regulators around the world