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Challenges facing the new chancellor

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New chancellor Philip Hammond is widely regarded as a safe pair of hands. By inclination a fiscal conservative, Hammond now has the job he long aspired to, but he faces challenges aplenty: he must try to avert a recession; balance his preference for a low tax, enterprise friendly economy with May’s promise of a ‘one nation Toryism’; and also protect Britain’s most valuable industries in the Brexit negotiations. 

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