CUTS-obsessed Chancellor George Osborne was exposed  yesterday for wrecking Britain’s chances of wiping out the deficit by holding down wages.

Experts revealed the Tory’s war on wages has robbed the Treasury of £33.4 billion since 2010 — more than the amount he plans to raise by cutting public spending to 1930s levels after the election.

The government’s own Office for Budget Responsibility (OBR) predicted the sum would have been collected in income tax by workers enjoying pay rises.