The Guardian view on austerity economics: it failed | Editorial

The Treasury says Britain has to save for a rainy day. But the skies are about to open and it’s time to spendThere could hardly be a worse time for the economy to be starting Brexit negotiations. That thought will be uppermost in the mind of Philip Hammond when he stands up on Thursday to make the annual address by the chancellor to the City’s elite at London’s Mansion House. Mr Hammond has been warning of the dangers of Britain being outside both the single market and the cust