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Will the chancellor’s gamble pay off?

Hammond is playing a high stakes game with the economy

By George Magnus  

Photo: NurPhoto/SIPA USA/PA Images

While the chancellor was delivering the Budget statement earlier this week, a friend sent me a text message reading “Where did he get all this money from?”

It was a great question. Without the extra money, the government would be up its Brexit creek without so much as a pooh stick, let alone a paddle. It is a windfall the government did not expect. Instead of using it to balance the budget and start to pay down debt, Philip Hammond returned it to the country, mostly in…

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