If Hammond won’t borrow to build the future, May needs a chancellor who will | Tim Montgomerie

Theresa May promised the people real reform and then appointed a chancellor who has delivered inertia. He is running out of time – and so are the Tories

There are lots of candidates for Theresa May’s worst decision since becoming prime minister, but one of her biggest mistakes was also the most inexplicable. Inexplicable because her speech on the steps of Downing Street, immediately after succeeding David Cameron, suggested that she did “get it”.

Related: Calling Philip Hammond a ‘saboteur’ or ‘traitor’ reflects terribly on the Tory right | Kate Maltby

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