No Margaret Thatcher? UK PM Truss's tax cuts trigger market mayhem

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 UK under Labour rule. The backlash would later come in the form of Britain's first female prime minister.

Why does 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?

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