I bumped into a Tory MP in the City yesterday and after a cheerful catch up their mood crumbled when I asked about the state of their party. “We’re finished as a political force” was the frank assessment.

A couple of hours later, Nigel Farage was making the same point on stage in Westminster, declaring that the Tory party has “had a good 200 years” but “it is now finished.” Current opinion polls provide evidence for his bombast; the latest........

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