UK budget deficit hits three-year high in blow for Hammond

First reading since chancellor's 'gamble' on future strength is a worrying sign, say analysts

Britain's budget deficit rose to the highest October level for three years, handing Philip Hammond disappointing news soon after his budget "gamble" on the future strength of the public finances.

The first snapshot since last month's autumn budget revealed that public sector net borrowing, excluding the nationalised banks, grew by 1.6n to 8.8bn compared with October a year ago, according to the Office for National Statistics.