Martin Hathaway, managing director of the Mid Yorkshire Chamber of Commerce, said:

“Liz Truss’s resignation comes at a crucial time for businesses. We are on the cusp of a recession with a multitude of challenges to tackle, both here in Yorkshire and the UK, and further afield with ongoing global conflicts.

“Our firms need clear, strong action now more than ever. Recent weeks have shown a lack of firm guidance and leadership, with policies changing and decisions being backtracked on from one day to the next.

“How can our organisations expect to plan, grow and look to invest if the roadmap keeps changing?

“I urge the Government to come to a quick resolution, and that whoever next takes on the role of Prime Minister immediately gets to work to help businesses tackle the difficult months ahead.

“Energy, skills and our economic standing on the international stage are the three crucial threads to business survival and must be addressed as matters of urgency.

“Our firms rely on people to keep going and produce the outstanding calibre of work that we pride ourselves on here in Yorkshire.

“The new administration must take action to support individuals and businesses alike, one cannot work without the other.”