Hunt may now have little choice but to usher in a new age of austerity | Larry Elliott

The Truss-Kwarteng blunders have seen off any hope that people-friendly policies will be pursued

Tangled up in Blue. A Hard Rain's Gonna Fall. Desolation Row. In a way, it was a shame none of these songs featured in Bob Dylan's set at the London Palladium on the day Liz Truss announced her resignation because all three would have been captured the mood.

The opening song from Blood on the Tracks aptly sums up the state of modern Britain after 12 years of Conservative rule. This is a country that is increasingly dysfunctional and, from the outside, appears to be having a nervous breakdown.