Boost to public finances lifts chancellor ahead of autumn statement

Rises in NI, corporation tax and stamp duty on shares help swell Treasury coffers but Philip Hammond will still miss deficit target

Britain's public finances improved in October with a fall in the monthly deficit to 4.8bn from 6.4bn in the same month last year, giving the chancellor a lift ahead of Wednesday's autumn statement.

Healthy increases in national insurance contributions, corporation tax and stamp duty on shares helped boost government coffers and put Philip Hammond in a better position to ease austerity.

Related: UK public finances beat forecasts in October, but deficit still off track - business live