Gordon Brown, the chancellor of the exchequer, realised the importance of productivity from the beginning. Now, eight years later, we can begin to assess performance. Unfortunately, as the new economic survey from the Organisation for Economic Co-operation and Development shows, it has been mediocre.

Productivity determines the wealth of nations. The proportion of the population at work matters, too, and so does the number of hours worked by each person. But neither is as important as productivity. Moreover, societies may reasonably differ in the value they place on work against leisure or on full-time motherhood against active female participation in labour markets. But all want more for less. So what is the UK’s record?