Truss unveils a costly scheme to cap household energy bills, in response to Russia's invasion of Ukraine.

But the dramatic announcement is eclipsed by the queen's death, which suspends all government business for 10 days.

Kwarteng announces a "mini-budget" which details the price of the energy scheme -– £60 billion ($67 billion) over the next six months.

But there are no measures to raise funds.

Instead, he announces massive new borrowing to pay for sweeping tax cuts -- including for top-earners -- along with scrapping a cap on bankers' bonuses.

The announcement draws immediate political fire for being unfair. But the most stinging verdict comes from the markets as the pound plummets towards parity against the dollar.

Two days later, on a Sunday, Kwarteng vows "more to come" on tax cuts. The next day, when markets reopen, the pound plumbs new depths.

The budget is dubbed "Kami-Kwasi" by media, which begin reporting tensions between Kwarteng and Truss, and deep disquiet among Tory MPs including cabinet ministers.

With bond market turmoil placing British pension funds in jeopardy, the Bank of England announces a two-week programme to buy long-term UK bonds, capped initially at £65 billion, "to restore orderly market conditions".

Pollsters YouGov report a 33-point lead for the main opposition Labour party –- its biggest margin over the Tories since the heyday of former Labour prime minister Tony Blair in the late 1990s.

Other polls also point to electoral disaster for the Conservatives. Hours before his keynote speech at the party's annual conference at the start of October, Kwarteng vows to "stay the course".

Kwarteng and Truss are forced into a humiliating U-turn, scrapping the planned cut in the top rate of income tax following hurried late-night talks.

In her own conference speech on October 5, Truss vows to pursue her "growth, growth, growth" agenda but fails to reassure party rebels and nervous markets.

UK government bond yields keep rising, inflicting more pain for UK households as mortgage rates surge.

In another volte-face, Kwarteng reveals he will publish a medium-term fiscal plan alongside independent budget forecasts on October 31 –- Halloween –- rather than in late November as originally planned.

But on October 12, Truss rules out any cuts to public spending, despite vowing no further U-turns on the remaining tax cuts, compounding perceptions of a government in chaos.

With markets still rattled and pressure piling on Truss, the prime minister fires Kwarteng after just 38 days in the role.

Kwarteng defends the economic programme in a letter to Truss, insisting it was needed because "the status quo was simply not an option".

In his place, she appoints former foreign minister Jeremy Hunt.

In what right-wing tabloid The Sun calls "a day of extraordinary mayhem", hardline interior minister Suella Braverman quits following a row with Truss and Hunt over immigration, saying that she had "serious concerns" about the government.

A parliament vote on banning fracking descends into chaos as Tory MPs are told they must vote in line with the government, despite widespread opposition.

Truss won the vote, but many MPs rebelled anyway, briefing journalists that it was the final nail in the coffin for Truss's premiership.

Liz Truss resigns as UK prime minister. A leadership election will be held within the next week; she will serve until a successor is chosen.