Philip Hammond is facing calls for a relaxation of George Osborne’s deficit reduction plans ahead of his autumn statement

An £84 billion black hole has opened up in Britain’s public finances because of falling tax receipts and the Brexit vote, analysis has revealed.

Britain’s economic prospects have deteriorated to such an extent that George Osborne’s demand for a £10 billion budget surplus in 2020 is on course to be a £13 billion deficit, according to an assessment by the Resolution Foundation think tank.

It warned that by 2020 Britain would have borrowed £84 billion more than was predicted in March. It recognised that public finances were showing signs of weakness before the EU referendum.

The figures come as Philip Hammond’s first autumn statement is less than a month away. He is facing calls for a relaxation of Mr Osborne’s deficit reduction plans and to