The UK is no longer the 5th richest economy in the world

In terms of total GDP, it is the sixth- or ninth-richest, depending on which measure you use. In terms of GDP per capita, it is the 20th- or 27th-richest.

Ultimately the calculations are complicated but by all recognised measures the UK has either slipped one place at best or possibly as low as 27th.

Whichever it is a sad indictment of austerity and Tory policy.

It is however important that this information is available to all politicians… to enable them to be able to accurately inform us all.

See more at Full Fact.

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