GEORGE OSBORNE’S Autumn Statement confirms his critics’ key accusation that his capitalist austerity policy is based on political choices rather than economic priorities.

His decision to scrap planned cuts to tax credits for millions of low-paid workers and to police budgets in England and Wales bear this out.

Shadow chancellor John McDonnell had promised Osborne that Labour would not seek to make political capital if he agreed not to introduce unjust tax credit cuts.