Government borrowing worse than expected in October

The government borrowed far more than analysts expected in October, the first figures to be published since Philip Hammond’s Budget last month show.

The deficit rose to £8.8bn from £7.2bn last year, marking the biggest October for three years, and well above the £6.1bn forecast.

The figures come after the chancellor said austerity was coming to an end.

However, the deficit since the start of the financial year in April is still the lowest for 13 years.