As the first full calendar year of life under this Labour government comes to a close, it’s an appropriate time to reflect on how they’ve done and how their promises to renew Britain marry up with reality.

How can I put this delicately?

Ministers should slope off to their constituencies this Christmas with their heads hanging in shame.

Chances are they won’t be able to console themselves with a drink at the local pub (as swathes of the tax-battered hospitality sector have banned Labour MPs) but fingers crossed they can find a quiet moment to reflect on what their time in office has done to the private sector economy.

This time last year........

© City A.M.