The dog that didn't bark in last week's flurry of manifestos and indeed during the election campaign was any serious intention to mend the public finances, which remain fragile. Considering that austerity has dominated UK politics for the past seven years, this is an extraordinary departure, but it reflects the impact of the Brexit vote and the rediscovery by national politicians of ‘the left behind.'

Both Labour and Conservatives pay lip service to austerity by agreeing to eliminate the deficit or ‘balance the books' by the middle of the next decade, albeit on revenue – not capital – spend.