Philip Hammond had no right to be so cheerful in his Spring Statement

For the first time in modern history, economic growth is expected to fall below 2 per cent in every forecast year. 

Philip Hammond, a Chancellor who Theresa May hoped to have sacked by now, was determined to resonate optimism in his Spring Statement. “Any Eeyores in the chamber are over there”, he declared, gesturing towards the Labour benches. “I am positively Tigger-like.”

The independent Office for Budget Responsibility, it is true, increased its GDP growth forecast for 2018 (from 1.4 per cent to 1.5 per cent) and revised down government borrowing (from 2.4 per cent of GDP to 2.2...
source: New Statesman

2018-03-13 16:23
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