CHANCELLOR Rachel Reeves took aim at vulnerable pensioners as she heralded a new raft of cuts today, aimed at plugging a £22 billion black hole in public finances this year.

After a snap audit, Ms Reeves accused the previous Tory government of “covering up” the true state of the public’s finances, despite the Institute for Fiscal Studies issuing a stark warning ahead of the general election.

Paving the way for a prolonged era of austerity, the Chancellor warned of “difficult decisions" across spending, welfare and tax in the autumn Budget, which will take place on October 30.