Tory business letter: important for what it didn't say

Executives praising Tory economic stewardship in the Telegraph ignore falling productivity, flatlining living standards, stalled investment and a record current account deficit

Conservative party managers take their pre-election letters to the Daily Telegraph from business leaders terribly seriously. The exercise has become a ritual. The rounding-up of supporters starts months in advance and each letter must carry more signatories than the last.

On that narrow measure, Wednesday's letter succeeds. There are 103 names versus 68 in 2010. The letter is also more of a full-throated call to vote Tory, rather than last time's specific applause for George Osborne's plan to halt a rise in national insurance.