Jon Adair

And the productivity crisis we've spent 15 years agonising over might just be bad counting.

I'm Jon Adair, I'm in the studio with Neil Woodford, and the reason we're talking about this now is that the Office for National Statistics effectively admitted it.

In its latest productivity release, it told users to stop relying on its own flagship survey and use HMRC tax data instead.

There was no press conference, barely anyone covered it, but that recommendation quietly undermines the arithmetic behind last November's tax rises and the Bank of England's interest rate decisions.