New Swedish Prime Minister resigns hours after being voted in

Sweden's first female Prime Minister, Magdalena Andersson, has resigned from office only hours after being voted in, Sweden's official Twitter account announced Wednesday.

The dramatic move came before Andersson was fully in office as she had not yet had counsel with the King, a spokesperson told CNN.

Her resignation follows a budget defeat in Parliament Wednesday, Sweden's Twitter account added, with lawmakers supporting the opposition's bill.

CNN, and Reuters - November 24, 2021

In your own words, explain the importance of the Federal Budget, and why a Prime Minister may be forced to resign if his or her budget proposal is not supported by the Parliament.