Why Hammond May Fail Those Hoping for Major Stimulus

Bloomberg Video

Nov.23 -- Chancellor of the Exchequer Philip Hammond is promising to find some cash for those whom Prime Minister Theresa May has described as “just about managing” to make ends meet. The so-called “JAMs” will be in his mind as he announces a £1.4 billion pound boost to affordable housing, an increase in the minimum wage and a reduction in how quickly some benefit payments fall away. Such policies are aimed at sharing Britain’s prosperity more equally among those who feel burned by globalization and the 2008 financial crisis, making them more likely to have voted for Brexit in June’s referendum. HSBC Senior Economist Elizabeth Martins and Societe Generale Global Head of Economics Michala Marcussen discusses with Francine Lacqua on "Bloomberg Surveillance."