Labour’s challenge is complicated by the triumph of finance. That’s bad news for UK plc | Larry Elliott

To get the necessary investment, Labour must bring the financial sector onboard while diluting its often malign influence

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The economic challenge facing Labour is enormous. But it is also straightforward: Britain has experienced a prolonged period of weak growth, public services have been starved of cash and are struggling, and the state of the country's infrastructure is a disgrace.

The government is holding a global investment summit in London on Monday, yet for all the hype this is unlikely to prove a gamechanger. Business investment in the UK is the lowest in the G7 and has been for 24 of the past 30 years. Conclusion: the government needs to invest - and invest big - to mend, grow and future-proof the economy.