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What did Philip Hammond’s first Budget amount to?

He had little to say about long-term macroeconomic issues

By George Magnus  

Chancellor of the Exchequer Philip Hammond making his Budget statement to MPs in the House of Commons ©PA/PA Wire/PA Images

Chancellor Philip Hammond’s last spring Budget—this ritual is going to be merged with the Autumn Statement—was never going to be remarkable. It was full of gags (credit to the author) but it also included the contentious boast that the Tories are “the party of the NHS”—without anything of substance to back it up. It was, moreover, a few sandwiches short of a picnic when it came to the macroeconomic…

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