The UK economy is stuck in a low-growth rut and has been for years. Like other developed economies, the country’s average annual expansion rate has stalled since the 2008 global financial crisis, with severe consequences for living standards.

An often cited statistic among economists is that real wages in the UK are barely any higher than they were 16 years ago, the worst run for at least a century. Something, then, must be done.

Rachel Reeves is acutely aware of this problem. Ask the chancellor for her thoughts on what the magic elixir could be to cure the UK’s economic affliction and she will give you a straightforward answer: investment, investment, investment.

Her first budget on Wednesday is the most consequential since the David