Britain’s assault on welfare fuels public anger British labor unions have deplored George Osborne’s failed economic policies after the Chancellor announced fresh plans to cut welfare spending by a further £10billion a year, local media reported.

Labor unions representing millions of workers both in private and public sector lashed out at the Chancellor’s renewed assault on benefits and called for swift action on his growth priorities, British media reported.

"George Osborne's repetition of 'we are all in this together' is an insult to millions of families struggling to make ends meet and meaningless to the one in seven children who regularly go without a hot meal. His cuts will turn decent people into desperate people” said Unite general secretary Len McCluskey.

"Osborne needs to look the mothers and fathers of hard pressed families in the eye and explain why he is cutting their services and working benefits, as he writes out £40,000 cheques to his millionaire chums”, he added.

"His vision of One Nation is to pick the pockets of ordinary working people and push young people into a life of homelessness, while giving tax cuts to the rich and letting the bankers in the City luxuriate in £13 billion of bonuses", said McCluskey.

This comes as the Work and Pensions Secretary also endorsed Osborne’s decision to cut welfare, despite already clashing publicly over the move.

Iain Duncan Smith told the Conservative Party conference in Birmingham that the welfare budget will be slashed in the next round of government cuts, adding that the stalled economy and need to trim the deficit meant more savings were required.

"We will have reduced welfare bills by £18 billion at the time of the next election and reformed welfare so it will be more effective”, he said.

Claims made by Osborne and Duncan Smith to protect public services were dismissed as laughable, since cuts mean job losses.

"Now we see George Osborne, the man who is giving a £40,000 windfall to each of the millionaire elite, announcing more attacks on the least well off in our society and on workers' rights”, said Paul Kenny, GMB General Secretary.

"Slashing people's employment rights under the guise of ownership schemes won't create jobs and it won't create growth”, he added.

Labour party’s shadow chief secretary to the Treasury, Rachel Reeves ridiculed the Chancellor for failing to accept that his plans are totally failed and his policies have resulted in a double dip recession, the deficit soaring by 22 percent so far this year and one million young people out of work.

Meanwhile, the results of a new survey showed that the UK businessmen want the government to focus on boosting economic growth instead of tackling the country’s structural deficit.

The survey of more than 350 companies by the EEF manufacturers’ organisation found an overwhelming support for efforts to stimulate the economy.