In the news

Interesting that Sunak explicitly warned this would happen. I think there will be a real and quick backlash against Truss/Kwarteng in the Tory ranks (at least the ones that don't have hedge funds).

There will be a run on sterling. The gilts market will be in freefall. And the FTSE will tumble as global investors take fright and sell off every form of British asset. It might take only a few days, or the government might stagger through until the end of September, but before long Liz Truss and her new Chancellor Kwasi Kwarteng will have been forced to call in the IMF to stabilise a collapsing economy. That is, at least, according to the former Chancellor Rishi Sunak.