There's a run on the pound and panic in the markets over the UK's biggest tax cut for the rich in half a century. New Prime Minister Liz Truss is taking the concept of "going for broke" to a whole new level, with an almighty gamble that the deficit will take care of itself once all the investment pours in.
But rather than being reassured, investors seem spooked: the International Monetary Fund is weighing in as the Bank of England hints at more rate hikes and British banks suspend new mortgage offers to homeowners. Some evoke 1976, when the IMF had to bail out the UK, a humiliation for a country then under Labour rule. The backlash would come in the form of Britain's first female prime minister, three years later.
Why do Liz Truss and those who back her think they can channel the spirit of Margaret Thatcher in 2022? Will they really double down? What are the options for post-Brexit Britain?
