Theresa May did not offer hers after a botched general election of her own choosing but, if I were pressed for a word to capture British politics near the close of 2017, it would be "resignation". The political class is resigned to an exit from the EU that most of its members, including the prime minister herself, regard as foolish. Her internal critics are resigned to her survival, conceivably for another 18 months. Enemies of Philip Hammond want his resignation and, in one sense, they have it. As of his budget last week, the chancellor is resigned to higher levels of public debt than were thought conscionable not long ago. He is less resigned to the years of slow growth forecast by the independent Office for Budget Responsibility. Even then, there is something pro forma about his determination to prove them wrong. A chancellor could hardly say anything else. The question is whether the British people are resigned. Will they learn to live with several more years of (at best) slow i...

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