Kept aloft by North Sea oil or privatisations, the economy under the Conservatives never got the long-term vision it needed
Listening to Bank of England officials in recent days, the message is clear: Britain’s economy is in a dire state.
Bombed out by the 2008 banking crash and stunned by the Brexit vote before being poleaxed by Covid-19 and then a war in Ukraine, every industry is suffering, and to a considerable extent. Business tries to drag the economy out of the morass only to find the bog is so deep there is no traction.
