So let me give you some unadulterated good news about the British economy. It is a story of enterprise and dynamism and young thrusters making their dreams come true. I am talking about a cutting-edge sector that is already employing tens of thousands of people and that has scope to take on any young kid who likes fiddling with an iPhone, regardless of academic qualifications – and we have quite a few of them these days.

Yes, folks, we are looking at the world of apps, those lovely little icons you can activate by just brushing the lustrous stay-clean screen of your gizmo, so that you can spend the rest of the day in a happy melon-slicing narcosis. London is at the absolute shiny needle-tip of global progress, as I can testify, because I have just been round a new Wayra academy in Fitzrovia.

It is a special hub, an incubator for start-ups, and it is like a throbbing nuclear pile of competitive talent. It is positively Californian in its youth, energy, brightly coloured bean bags and breakout romper rooms with very good coffee. They are coming up with apps that help you unleash your artistic urges; apps for establishing the sexual preferences of everyone in the vicinity; apps for helping blind people cross the road. One team had come up with a way of monitoring the language of the entire output of Twitter and other social networks, so that they could tell where people were generally happy and where they were generally angry (they seemed to be pretty cheesed off in Islington that morning, but cheerful in Chelsea).