The UK party system has lost its reason for existence.
After WWII, the Conservative Party was representative of business, commerce and employers, and Labour was the party of industrial workers and other employees. Both supported industry in their different ways, but they had a genuine difference of position representing interests which cannot be entirely reconciled.
But Thatcher and Reagan’s Monetarism sold out to global finance, and Thatcher largely deindustrialised the UK, wiping out most of the Conservative position in a desperate move to disempower the trades unions. The UK party system has made no sense ever since.
We don’t really have government any more, just slightly different styles of administration for more powerful financial forces. But life chugs on of its own accord, so the lack of leadership becomes obvious only when disaster strikes.