Phillip Hammond wants to avoid the budget clashing with the final stage of the Brexit negotiations

Philip Hammond has postponed naming a date for the autumn budget because he believes that a Brexit deal could be struck by November at a special EU summit.

The chancellor wants to avoid the budget clashing with the final stage of the Brexit negotiations and has put the Office for Budget Responsibility on standby.

Asked whether Michel Barnier, the EU’s chief Brexit negotiator, was right in saying a deal could be struck in six to eight weeks, Mr Hammond told MPs at Treasury Questions in the Commons said: “It is doable.”

He added that he meant that both the legal text of the withdrawal agreement and a sufficiently detailed political deal on the future relationship, which he likened to “heads of terms” in