Liz Truss’s Inheritance: A U.Okay. Economy on Its Knees

LONDON—Britain’s new Prime Minister, Liz Truss, will face probably the most daunting financial outlook for an incoming British chief since her political hero, Margaret Thatcher, grew to become the U.Okay.’s first feminine prime minister in 1979.

Britain’s slowing economic system is poised to enter recession, inflation is at its highest fee in a long time and households are going through crippling power payments from the battle in Ukraine.