Liz Truss told Downing Street staff she was “relieved it’s over” as she prepared to resign amid a storm of political chaos, it has been claimed.
The prime minister will this week walk out of No 10 Downing Street with a record as Britain’s shortest-serving leader.
Her brief tenure has been marred by the fallout from her mini-budget, humiliating U-turns and a stark lack of stability.
Ms Truss spent her final weekend as prime minister at Chequers, the Buckinghamshire manor used by sitting leaders and their guests.
The prime minister’s staff are said to have grown emotional as they watched her prepare her resignation speech last Thursday.
A source quoted in The Mail on Sunday said Ms Truss reassured them she was not bitter about the end of her leadership.
“Don't worry, I'm relieved it's over,” she reportedly told them, before adding: "At least I've been prime minister.”
Ms Truss became the third female prime minister of the UK when she was sworn in by Queen Elizabeth II on September 6. Two days later the monarch died.
While Ms Truss will remain as an MP, it is unlikely she will be given a job in her successor’s Cabinet anytime soon.
It is convention that the outgoing prime minister announces a resignation honours list, but it remains unclear whether she will do so given the short length of her service.
Boris Johnson's list is yet to be released.
A reform campaigner said any plans for Ms Truss to dish out honours would be a “reward for failure”.
“A seat in the House of Lords should not be a reward for failure,” Willie Sullivan, of the Electoral Reform Society campaign group, said.
“It’s a lifetime appointment to make our laws, not a gift to be handed out by a prime minister as they head out the door.
“If Liz Truss chooses to pack the Lords with new peers on leaving office, it will only further damage Westminster’s legitimacy at a time when public faith in politics is already stretched to the limit.”
There are currently about 800 members of the House of Lords, the upper chamber of Britain’s Parliament. The majority of these are life peers.
It is tradition for departing prime ministers to create new life peerages, but as these are often handed to political staff and former advisers, they are rarely without controversy.
Mr Sullivan called for a “smaller, elected House of Lords, where lawmakers are chosen by the people they serve not hand-picked by the prime minister of the day”.
“It’s time to end this farce and deliver the democratic second chamber our country needs,” he said.
Liz Truss through the years - in pictures
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British Prime Minister Liz Truss announces her resignation, outside No 10 Downing Street, London. AP -

Liz Truss during Prime Minister's Questions in the House of Commons in London, addressing Parliament for the first time since abandoning her disastrous tax-slashing economic policies. AFP -

Liz Truss walks off stage after delivering her keynote speech at the Conservative Party annual conference at the International Convention Centre in Birmingham in October. PA -

Liz Truss meets US President Joe Biden during the 77th session of the United Nations General Assembly in New York in September. AP -

King Charles during his first audience in September with Ms Truss at Buckingham Palace, London, following the death of Queen Elizabeth. Getty Images -

Labour leader Keir Starmer and Liz Truss pay their respects after the service and procession for the coffin of Queen Elizabeth II into Westminster Hall, London, in September. PA -

Ms Truss is welcomed by staff in Downing Street as she enters the famous prime ministerial offices for the first time in September. Photo: Andrew Parsons / No 10 Downing Street -

Queen Elizabeth II greets the newly elected leader of the Conservative Party, Ms Truss, at Balmoral Castle in Scotland in September. The queen invited Ms Truss to become prime minister and form a new government. Getty Images -

New Conservative Party leader and Britain's Prime Minister-elect Liz Truss delivers a speech after being announced the winner of the Tory Party leadership contest in central London on September 5, 2022. Ms Truss is the UK's third female prime minister following Theresa May and Margaret Thatcher. AFP -

Liz Truss meets supporters as she arrives to attend a Conservative leadership election hustings at the NEC, Birmingham, in August. AP -

Rishi Sunak and Liz Truss take part in the BBC Leadership debate at Victoria Hall in Hanley in July. Getty Images -

Liz Truss playing pool during a visit to the Onside Future Youth Zone in London in August 2022. PA -

Boris Johnson and Ms Truss arriving for an extraordinary summit at Nato headquarters in Brussels, in March 2022. AFP -

Russian Foreign Minister Sergey Lavrov and Ms Truss arrive for talks in Moscow in February 2022. AP -

Ms Truss in Red Square during a visit to Moscow in February 2022. Photo: No. 10, Downing Street -

Ms Truss meeting European Commission vice-president Maros Sefcovic (not seen) for talks in central London on the Northern Ireland Protocol on 11th February 2022. PA -

Ms Truss with Marise Payne, the Australian minister of foreign affairs, at Government House in Sydney, Australia, in January 2022. Photo: No. 10, Downing Street -

Liz Truss hosts Vice President of the European Commission Maros Sefcovic at Chevening House in January 2022 to discuss the Northern Ireland protocol. Photo: No. 10, Downing Street -

Ms Truss visits British troops in Estonia as they operate alongside other Nato troops in Tapa in November 2021. Photo: No. 10, Downing Street -

Liz Truss walks through the old town in Tallinn, Estonia, in November 2021. Photo: No. 10, Downing Street -

Ms Truss greeting Ukraine's President Volodymyr Zelenskyy at the Cop26 summit in Glasgow, in November 2021. PA -

Ms Truss at the Red Fort in New Delhi during a trip to India in October 2021. Photo: No. 10, Downing Street -

The British foreign secretary on the Plaza de la Constitucion in Mexico City, during a trip to Mexico in September 2021. Photo: No. 10, Downing Street -

Queen Elizabeth II greeting Ms Truss at a reception for international business and investment leaders at Windsor Castle in October 2021. PA -

Liz Truss with Antony Blinken, the US secretary of state, in New York, in September 2021. Photo: No. 10, Downing Street -

Ms Truss on a morning jog over Brooklyn Bridge in New York in September 2021. Photo: No. 10, Downing Street -

Former Chancellor Philip Hammond, centre, holding his red ministerial box outside 11, Downing Street, flanked by Treasury colleagues Ms Truss and Mel Stride in October 2018. PA -

Ms Truss, then secretary of state for justice, being escorted around HMP Brixton by prison governor David Bamford in November 2016. PA -

Ms Truss as she became the first woman ever to hold the role of Lord Chancellor, arriving at the Royal Courts of Justice before being installed in July 2016. PA -

In April 2016, the former environment secretary Liz Truss listening to former chancellor of the exchequer George Osborne (not seen) during his speech at the National Composites Centre in Bristol. PA -

When she was environment minister, Ms Truss visited the bridge over the River Wharfe in Tadcaster, which collapsed after heavy flooding in December 2015. Getty Images -

Addressing the Conservative party conference in Birmingham in 2014 when she was secretary of state for environment, food and rural affairs. Getty Images -

Mr Truss on the Sawnnington Farm to Fork stand at the Norfolk Food Festival at the Houses Of Parliament in October 2011. PA -

Conservative Parliamentary candidate for South-West Norfolk Elizabeth Truss, while canvassing in the village of West Walton during the 2010 General Election campaign. PA -

The former Conservative Shadow Home Secretary, Dominic Grieve, centre, speaking at the launch Reform's Lawful Society report on the nature of crime and the incentives in the criminal justice system while Ms Truss looks on, in September 2008. PA -

Former Conservative Leader William Hague meeting conservative candidate for Calder valley Ms Truss, during the General Election Campaign for 2005. PA
COMPANY PROFILE
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
Diriyah%20project%20at%20a%20glance
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Tomorrow 2021
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The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
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Europe’s rearming plan
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Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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La Mer lowdown
La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.






































