Unite, Britain's biggest union, has called the Chancellor of the Exchequer, George Osborne an 'unmitigated disaster' and has called for him to be sacked following the latest economic forecast from the Institute for Fiscal Studies.
The union has also demanded that the Tories drop plans to cut the top rate of tax from 50p in the pound to 45p, due to take effect in April.
UK borrowing is likely to be £64 billion higher in 2014-15 than forecast, according to the respected think tank. It also means that because of a weaker than expected economy the government will have to borrow a lot more, unless it imposes tax rises and further spending cuts.
Unite general secretary Len McCluskey, said:
"George Osborne is an unmitigated disaster for the country. His bankrupt economic policies are bankrupting our country, it's time he was sacked.
"Food banks, legal loan sharks, Mcjobs, and no hope for the young - this is the tragedy of life for working people in Britain today under the Tories. If this latest forecast is true then things are going to get even worse.
"With 80 per cent of the cuts still to come we could lose hundreds of thousands more jobs and valuable services with tragic consequences for this country.
"If the Tories try to push ahead with their £40,000 tax cut for millionaires it will be a moral outrage. Britain desperately needs a new Chancellor and some radical fresh thinking on the economy."
Contact: Ciaran Naidoo on 07768 931 315
Notes to editors: Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The general secretary is Len McCluskey.