This Jubilee weekend may prove a decisive moment in the political career of Britain’s Prime Minister Boris Johnson, as Conservative Members of Parliament mingle with their constituents and hear at first hand how much trouble their leader is in. But the personal drama of his fight for survival has tended to obscure an even deeper sea of troubles. Whether through his fault or not – largely not, historians may ultimately judge – the Conservative Party has lost its way. It is being pulled in two incompatible directions: towards more State intervention to blunt the impact on individuals and families of a sharp cost of living crisis, and towards liberating the economy from that same intervention in order to free up the “animal spirits” of entrepreneur-driven economic growth.