Hole lot worse Autumn statement: Grim George Osborne unveils extra cuts to save UK

GEORGE Osborne scrambled to plug a giant new black hole in the nation's finances yesterday with cuts to workers' wages and toiling families' tax help.

The Chancellor said growth had plummeted by two thirds from predictions in March.

Mr Osborne admitted that to balance the books now the country must suffer at least two extra years of pain.

A second £23billion round of cuts will now be enforced after the next election in 2015 — so Britain will have suffered seven years' hardship.

But the Chancellor insisted the misery was vital to keep Britain afloat and away from the chaos engulfing debt-laden countries like Greece.     More Read