Philip Hammond may have thought he was inheriting a poisoned chalice when he took over as chancellor last summer, but things have turned out better than he feared, as David Smith reports.
There are times when it is good to take over as chancellor of the exchequer and there are times when it is a poisoned chalice. In 1993 Kenneth Clarke inherited an economy embarking on a good recovery from his predecessor Norman Lamont while Gordon Brown took over from Clarke in 1997 when that recovery was blossoming into the longest on record and public borrowing was falling.
Alistair Darling on the other hand was unfortunate to take over from Brown in the summer of 2007 just as the global financial crisis was breaking. One of the first things that happened on his watch was the...
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Home >Articles > A little bit of breathing space for Hammond
A little bit of breathing space for Hammond
Philip Hammond may have thought he was inheriting a poisoned chalice when he took over as chancellor last summer, but things have turned out better than he feared, as David Smith reports.
There are times when it is good to take over as chancellor of the exchequer and there are times when it is a poisoned chalice. In 1993 Kenneth Clarke inherited an economy embarking on a good recovery from his predecessor Norman Lamont while Gordon Brown took over from Clarke in 1997 when that recovery was blossoming into the longest on record and public borrowing was falling.
Alistair Darling on the other hand was unfortunate to take over from Brown in the summer of 2007 just as the global financial crisis was breaking. One of the first things that happened on his watch was the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
