Montgomeryshire's MP has said he "welcomes" Liz Truss's decision to quit as Prime Minister.

As reaction poured in from across Wales to the PM's exit after just 44 days running the country, Craig Williams said a "stabilising force" was now needed.

The embattled Prime Minister resigned after a turbulent six weeks in office, with her mini budget causing panic in financial markets, before later having to be almost completely rolled back.

Mr Williams said: “I welcome the Prime Minister's difficult decision to resign, it is right that we have a stabilising force in Downing Street to reassure the public and the markets going forward.

READ MORE: What comes next as Liz Truss quits as PM

“I wish her well for her future endeavours and look forward to seeing which Members put themselves forward for the leadership next week.”

Politicians from opposition parties have slammed the Conservatives and demanded a General Election.

Welsh Liberal Democrat Leader and former Radnorshire MP Jane Dodds placed the blame for the situation on the Conservative Party as a whole.

“Let’s be clear, the problem isn’t just her or any individual Minister – the entire Conservative Party is dysfunctional from top to bottom and is unfit to lead the country," she said.

“Since 2015, the Conservatives have lurched from extreme to extreme, causing economic vandalism on a massive scale.

“We owe it to the households, individuals and businesses up and down Wales and the rest of the UK who have been hit hard by this crisis, to take firm action now."

Welsh First Minister Mark Drakeford added: “This has been a complete and utter failure of government with everyone in this country now having to pay the price.

“The complete lack of leadership is preventing decisions and actions from being taken to deal with the many challenges we are facing and help people over what is going to be a very difficult winter.

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“Unfortunately, the deep and intractable divisions within the government means that any successor put forward will face the same set of challenges. A General Election is now the only way to end this paralysis.”

Leader of the Welsh Conservatives, Andrew RT Davies said the Prime Minister had “done the right thing and stood down”.

“The new Prime Minister must grip this situation quickly, and provide leadership, confidence and hope to people across our nation,” said Mr Davies.

“The Conservative Party must rise to this challenge, and deliver for people across Wales and the United Kingdom.”