When Trussonomics arrives, the big winner may well turn out to be Labour | Larry Elliott

The PM's assault on economic orthodoxy is a leap in the dark with every prospect of backfiring spectacularly

Since launching her bid to be prime minister in July, Liz Truss has talked non-stop about the need to challenge Treasury orthodoxy and run the economy differently. Friday marks the day when the talking ends and Britain gets a taste of what Trussonomics actually means.

Let's be clear: Kwasi Kwarteng's statement to MPs on Friday is much more than a run-of-the-mill fiscal event. Mini budget doesn't really do it justice either. Most full-blown budgets matter little and are quickly forgotten. This one is a very big deal indeed.

Larry Elliott is the Guardian's economics editor