The spring statement occupies an unusual position in the UK’s economic policy landscape. When I think of spring statements I think of Philip Hammond, now Lord Hammond, chancellor under Theresa May from 2016 to 2019. His spring statement of 2018 was the purest form of the genre. “I won’t be producing a Red Book [the budget document] today, Mr Speaker,” he announced, instead providing an update on “the economic and fiscal position”. A year later, however, Hammond’s spring statement was
