A toxic combination of low growth and high inequality has fuelled 15 years of economic stagnation. That’s the sobering conclusion of the Resolution Foundation’s final report of its Economy 2030 Inquiry. Running to some 290 pages, it is a compelling read that underlines the urgent action required.

At the core of the problem, the report suggests Britain is a nation living off its past, rather than investing in its future. To tackle this, a new economic strategy is needed to turn around our national fortunes and secure shared prosperity. The report’s centrepiece is an eye-catching ambition for Britain to become a ‘services superpower’, building on our strengths as the second biggest services exporter in the world with our cities as centres for thriving high-value service industries.