Britain’s Conservative Party faces the nightmare of an election this year after the economy has dipped into recession, and the Tories have no one to blame but themselves. At least their predicament is a warning for others.

       The U.K. economy contracted 0.3% in the last three months of 2023, according to data released last week. This is the second consecutive quarterly contraction, the standard benchmark for a recession, and as a result the economy expanded a paltry 0.1% over the full year. By comparison the U.S. grew 2.5% last year.

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