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Brexit dominates the headlines, but there are deeper and far more significant challenges today to Britain's economy. As Jagjit Chadha shows, the UK's longstanding decline in productivity is the key to understanding the main problems facing us today: low real-wage growth; low levels of investment, except, disastrously, in property; erratic regional performance; lack of infrastructure; and the growing gulf between rich and poor. These fundamental difficulties predate the decision to leave the EU, and it is essential not to be distracted from them by the raging Brexit debate - regardless of the Brexit outcome, our economic future depends on resolving these issues. Leaving the EU almost certainly won't help, but ignoring the real problems won't make them go away. In fact, it is sure to make them worse.