The economic record is at the heart of the UK government's campaign for re-election. The claim by Gordon Brown, chancellor of the exchequer, to replace Tony Blair as party leader and prime minister is also founded on his record as an economic manager. So how successful has he been? Pretty successful, must be the answer. But there are noteworthy challenges ahead.

When Mr Brown agreed not to oppose Mr Blair for the party leadership in 1994, he insisted on control over domestic policy. As a result, "Brown's Treasury simply never took instructions from 10 Downing Street," as Robert Peston of the Sunday Telegraph points out in a fascinating book on Gordon Brown.* This is historically unprecedented. It has also, quite understandably, frustrated Mr Blair.