The financial markets are quite right to be afraid of Trussonomics

Borrowing costs have surged amid expectations for a sharp rise in interest rates but the pound has been sliding, writes James Moore

The markets have no faith in Trussonomics to fix Britain’s problems (PA)

Throughout the course of her dismal campaign for the leadership of the Tory party, Liz Truss has studiously avoided economic reality, notably ducking interviews with people who might confront her with it (Nick Robinson and especially Andrew Neil).

That reality, however, is starting to bite.

Her (likely losing) rival Rishi Sunak warned of the danger of the markets losing faith in Britain in an interview with the Financial Times. It might serve as his last hurrah. Perhaps he hopes to establish himself as the (possible) king in waiting on the backbenches. The man to pick up the pieces when it all goes horribly wrong.