Mr Carmichael said:
“Liz Truss set out to reassure the public and calm the markets today by abandoning her flagship policies and cutting loose her Chancellor. Neither the public nor the markets have been convinced. At a time when people across our country desperately need certainty and stability from their government, they are getting wave after wave of chaos from the Conservatives.
“Whatever your political persuasion, it is now clear: the Conservatives are ungovernable as a party and they cannot govern this country.
“This goes beyond political disagreements – the public have a right to a functional government. It is time for a general election.”