CHANCELLOR George Osborne was accused yesterday of selling a pay-rise “lie” while allowing high-street chains to slash workers’ take-home pay.

Britain’s lowest-paid workers were supposed to see their pay increase from £6.70 to £7.20 on April 1 with the introduction of the so-called national living wage.

The measly rate excludes under-25s and is a full £1.05 lower than the real rate needed to buy basics worked out by the Living Wage Foundation.