The situation for the Conservative Party is worse than you think. The difficulty lies, however, in explaining how serious it is without falling into the language of hyperbole. So, I shall simply list some developments as dispassionately as I can.

🧵 1./ Lifting the UK’s chronically poor productivity has been the goal of successive Tory governments but it has proved elusive.

By the end of 2019, it was 20% below the level it would have reached if it had continued on its pre-(financial) crisis path.