It’s bad enough being overtaken by the US, China and Germany. But, according to the World Economic Forum, the UK is now less competitive than the Netherlands, Denmark and Finland.

Once, we were top. Now we are twelfth and sinking. Manufacturing jobs and output jobs have been declining for years, as the graph shows. We are struggling to afford the Olympics and fill pot holes in the road. The Netherlands even exports more than us. And don't get started about the Eurovision song contest.