Rishi Sunak or Liz Truss? Whoever wins faces a bleak economic outlook | Larry Elliott

Inflation and a cost of living crisis mean the new PM will have little time to produce a feelgood factor

Britain has a chequered economic past so it is not exactly unusual for new prime ministers to take over at times of crisis. It is hard, though, to think of a premiership in recent times that has begun with the skies as dark as they are today.

Liz or Rishi? Tax cuts now or later? In a sense, it doesn't really matter because whoever takes over from Boris Johnson will be handed one heap of problems.