The Government's boldest manifesto commitment is the first of its missions: ‘to secure the highest sustained growth in the G7 with good jobs and productivity growth in every part of the country'.

Britain has rarely led the G7 pack and since the global financial crisis the US economy has grown twice as fast as the UK. Delivering the promise of this mission requires a big change. The state of the public finances means a large Keynesian fiscal stimulus to growth – whether a rapid surge in public spending or big cuts in tax – is not in prospect. So the question becomes pressing as to what will change the sluggish trajectory of UK growth.