OUTGOING Prime Minister Liz Truss insisted “brighter days lie ahead” in her farewell speech as her tenure as the shortest-serving leader in British history came to an end.

Truss – who was in office for a mere 49 days in total – said she had helped millions of people with energy bills and pointed to reversing the National Insurance increase as one of her main achievements.

She quoted Roman philosopher Seneca in saying “it is not because things are difficult that we do not dare, it is because we do not dare that times are difficult” as she insisted it was time for the UK to be “bold". 

She said: “From my time as prime minister, I’m more convinced than ever that we need to be bold and confront the challenges that we face.

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“We simply cannot afford to be a low-growth country where the government takes up an increasing share of our national wealth and where there are huge divides between different parts of our country.”

She added the country must take advantage of its "Brexit freedoms" and support Ukraine in its "brave fight" against Russian aggression.  

At the end of her speech, she wished incoming PM Rishi Sunak “every success for the good of our country”.

Truss held her final Cabinet meeting this morning before making the speech and will now travel to Buckingham Palace for her final audience with King Charles.

Once this is done, Sunak – the UK’s third leader in seven weeks - will meet the King and will be invited to form a government before making a speech at around 11.35am.

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Sunak will then name his Cabinet later on Tuesday, with Jeremy Hunt expected to hang on to his position as Chancellor. It is understood he is likely to offer leadership rival Penny Mordaunt a place in the Cabinet too.

Kirsten Oswald, the SNP's deputy Westminster leader, slammed Truss for failing to say sorry for her failures which have caused economic turmoil.

She said: "It beggars belief Liz Truss couldn’t bring herself to apologise - or utter a single word of regret - for the catastrophic damage she has done to the UK economy.

“Families are paying through their teeth for her mistakes as mortgage rates soar, pensions fall, energy bills rise, and inflation goes through the roof.

“Now we face devastating austerity cuts under Rishi Sunak - with families footing the bill for Tory failure.

“It’s clearer than ever that Scotland needs independence to escape Westminster control and get rid of Tory governments for good.”