Mike Dolan: Britain bracing for brewing economic storm this winter

Britain's households are facing multiple hits from rising energy bills over the coming six months, deep real wage cuts, and rising borrowing costs

Liz Truss, the front-runner to be leader of the Conservative Party and the next UK prime minister, has promised some £30bn (€35.3bn) worth of largely unfunded tax cuts.

If Britain's brewing economic storm looks like an outlier, UK markets have yet to reflect that fully — but investors may yet balk at the winter ahead.

Against the backdrop of a generally lousy year for most major markets and eye-popping inflation and recession forecasts, UK assets have held up better than you might think.