David Cameron and George Osborne's personal ratings have plunged since last week's disastrous Budget, polling evidence revealed today.

Even Jeremy Corbyn is currently more popular than the pair following a series of U-turns on Budget measures and the damaging Cabinet resignation of Iain Duncan Smith.

It came as the Chancellor admitted today that he will have to manage any future cuts to disability benefits 'in a better way'.

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An Ipsos Mori poll found just 27 per cent of people are satisfied with George Osborne's performance as Chancellor - his worst rating in three years. Corbyn has a rating of 35 per cent - one higher than Cameron

He again refused to apologise for planning £4.4bn of disability cuts - only to scrap the plans just 48 hours later.

An Ipsos Mori survey of public opinion carried out since last Wednesday's Budget found six in ten people are dissatisfied with the performance of the Chancellor, with just 27 per cent satisfied - his worst ratings in three years.

Six in ten are also dissatisfied with the Prime Minister - with just one in three people satisfied with his performance, leaving him with a net satisfaction rating of -25 per cent - his lowest since 2013.

Meanwhile Mr Corbyn's personal ratings have surged since he led the opposition against the £4.4billion cuts to personal independence payments (PIP), which are paid to 640,000 disabled people who need help with dressing, undressing or using the bathroom.

David Cameron and George Osborne's personal ratings have plunged since last week's disastrous Budget, polling evidence revealed today

The Labour leader has now overtaken Mr Cameron, with today's poll showing 35 per cent of people are satisfied with his performance.

Some 46 per cent are still dissatisfied with Mr Corbyn, leaving him with a net satisfaction score of -11.

Even Jeremy Corbyn (pictured at the British Kebab Awards last night) is currently more popular than David Cameron and George Osborne following a series of U-turns on Budget measures and the damaging Cabinet resignation of Iain Duncan Smith

The Tory lead over Labour has narrowed to just two points - with the Conservatives on 36 per cent and Labour on 34.

The polling on Mr Osborne's drop in popularity will worry the Chancellor and his allies as they gear up for a leadership battle when Mr Cameron steps down before 2020.

His reputation was badly damaged by last week's Budget and subsequent resignation of Mr Duncan Smith as Work and Pensions Secretary and his hopes of succeeding Mr Cameron as Prime Minister could be wiped out altogether if Britain votes to leave the EU in June's referendum.

Before last year's General Election more people were satisfied with Mr Osborne than dissatisfied but today's poll paints a very different picture.

Just 43 per cent believe his policies will boost Britain's slowing economy in the long-term, while half disagree.

Four in ten people think the Budget was bad for them - the highest since the so-called 'omnishambles Budget' in 2012.

More than half of respondents said last week's Budget was bad for the country, with less than a third saying it was good.

Mr Osborne defended his Budget this morning, insisting he would learn from the mistakes made.

Facing MPs on the Treasury committee, he said: 'Clearly, if we are going to make reforms to disability benefits we have to go about it in a better way than we did.'

But he was criticised by Andrew Tyrie, the chairman of the Treasury committee, for setting out additional borrowing requirements of £56billion.

The polling on Mr Osborne's drop in popularity will worry the Chancellor (pictured today at the Treasury committee) and his allies as they gear up for a leadership battle when Mr Cameron steps down before 2020

He said this was 'rather curious' coming so soon after November's Autumn Statement, when the Chancellor spent an unexpected £27billion windfall stemming from improved forecasts from the Office for Budget Responsibility (OBR).

DAVID CAMERON FLIES OFF TO LANZAROTE FOR 'TIME TO THINK' David Cameron (pictured on holiday in Ibiza in 2013) will fly to Lanzarote today for an Easter break David Cameron told Tory MPs last night he was jetting off to Lanzarote over Easter to give him 'more time to think'. The Prime Minister has faced his toughest week in Downing Street after suffering a Cabinet resignation and performing an embarrassing U-turn on cuts to disability benefits. He admitted to colleagues last night that it had been a 'tough week' but urged them 'not to lose sight of what we can do'. He leaves for the Canary Island today - despite urging the public to spend their holidays in the flood-hit north of England to help boost the economy of local communities. Mr Cameron will take his family to the same island where he was stung by a jellyfish in 2014. His authority as Prime Minister was significantly undermined last Friday after Iain Duncan Smith dramatically quit the Cabinet in protest at plans to slash a further £4.4billion from the disability benefits budget at the same time as George Osborne gave a tax break to middle class earners. The Government was forced to ditch the plans just 48 hours after the Budget after scores of Tory MPs threatened to rebel, which could have inflicted a humiliating defeat on the Budget measures. Addressing the weekly meeting of the Conservative party's backbench 1922 committee last night he reportedly said: 'I could do with time to think. It has been a tough week but let's not lose sight of what we do.' Advertisement

But Mr Osborne said he would have been 'rightly criticised' if he had simply set aside the £27 billion windfall identified by the OBR to swell the surplus he is planning for 2019/20.

He was also questioned over how he would make up the £4.4billion shortfall from ditching the disability benefit cuts.

On Monday the new Work and Pensions Secretary Stephen Crabb announced that the Government was not planning any further cuts to the welfare Budget, leaving the Chancellor searching elsewhere for funds to plug the shortfall.

He has faced calls from some Tory MPs to target benefits handed to wealthy pensioners to plug the hole.

However the Chancellor said he was not willing to break the Tory manifesto pledge by withdrawing the free bus pas, TV licence and winter fuel allowance that are given to pensioners regardless of their income.

One positive in today's poll showed support for Mr Osborne over his stand-out Budget announcement to introduce a sugar tax, with seven in ten people backing the measure.

Speaking in front of the Treasury committee today he warned drinks companies not to 'waste time and money' on challenging the new sugar tax in the courts.

He struck a defiant tone when asked about the legality of the levy, telling MPs: 'If they want to have an argument about the sugar tax, bring it on.'

The tax will add 24p a litre to products with the highest sugar content with the intention of raising £500million a year.

It could add an extra 8p to a can of Coca Cola, but economists have warned that the tax will not achieve its aim of reducing the consumption of sugary content.

Soft drinks companies are preparing to sue the Government over the tax, which will come into effect in two years' time.

Coca-Cola, Irn-Bru maker AG Barr and Robinson's manufacturer Britvic are among drinks companies that are drawing up plans for a legal challenge.

The food industry is also likely to be supportive amid fears that the sugar levy could set the stage for a swathe of new 'sin' taxes on sugar in food, as well as on fat, salt and alcohol.

But asked by MPs on the Treasury Committee whether the Government was prepared for a battle in the courts, Mr Osborne said today: 'I would say, if they want to have an argument about the sugar tax, bring it on.

'We are going to introduce a sugar tax, it's not a threat or a promise, it's the way it's going to be and I think it's the right thing for this country.'

'Bring it on!' Sugar tax will be 'robustly' defended in the courts says George Osborne as he warns drinks companies not to 'waste time and money on a legal challenge'

George Osborne admitted today that he will have to manage any future changes to disability benefits 'in a better way' after his embarrassing U-turn on plans to slash £4.4.billion from personal independence payments (PIP)

George Osborne has warned drinks companies not to 'waste time and money' on challenging the new sugar tax in the courts.

He struck a defiant tone when asked about the legality of the levy, telling MPs: 'If they want to have an argument about the sugar tax, bring it on.'

The tax was the stand-out announcement in the Chancellor's Budget last week and will add 24p a litre to products with the highest sugar content with the intention of raising £500million a year.

It could add an extra 8p to a can of Coca Cola, but economists have warned that the tax will not achieve its aim of reducing the consumption of sugary content.

Soft drinks companies are preparing to sue the Government over the tax, which will come into effect in two years' time.

Coca-Cola, Irn-Bru maker AG Barr and Robinson's manufacturer Britvic are among drinks companies that are drawing up plans for a legal challenge.

The food industry is also likely to be supportive amid fears that the sugar levy could set the stage for a swathe of new 'sin' taxes on sugar in food, as well as on fat, salt and alcohol.

But asked by MPs on the Treasury Committee whether the Government was prepared for a battle in the courts, Mr Osborne said today: 'I would say, if they want to have an argument about the sugar tax, bring it on.

The new sugar tax could increase the amount of sugar consumption in the UK, economic experts have warned as they tore apart George Osborne's flagship Budget announcement

'We are going to introduce a sugar tax, it's not a threat or a promise, it's the way it's going to be and I think it's the right thing for this country.

THE MOST SUGARY SOFT DRINKS TO BE HIT BY OSBORNE'S SUGAR TAX Pepsi currently has 10.3 grams of sugar per 100ml, which means it would attract a tax of 24p per litre Drinks with more than 5g of sugar per 100ml will be taxed at a lower rate of 6p per drink. These include: Schweppes Indian Tonic Water: 5.1g Sprite: 6.6g Fanta: 6.9g Dr Pepper: 7.2g Um Bongo: 7.5g Drinks with more than 8g of sugar per 100ml will be taxed at a higher rate of 8p per drink. These include: Lucozade original: 8.7g Ribena: 9.9g Dr Pepper: 10.3g Irn Bru: 10.3g Pepsi: 10.6g Coca-Cola: 10.6g 7 Up: 10.6g Red Bull: 11g Rockstar energy drink: 12.7g Old Jamaican ginger beer: 15.2g Advertisement

'I think it will make a huge improvement to childhood health and it's been warmly welcomed across the political spectrum but also very much supported by the health profession, very much supported by the education profession.

'So we will now get on and consult on the technical details of the tax, although I set out the parameters of it and it will be introduced in 2018.

'And it's introduced in 29018 precisely so companies have two years to reformulate their products or change their marketing mix if they wish to do so. Otherwise they will pay the tax.'

He added: 'We took legal advice before introducing it and we're very clear it's legal and we would of course robustly defend it if there was a legal challenge.

'But I'd say to companies: don't waste time and money on a legal challenge. Use this period to look at your products and see if you can reformulate.'

Under the Budget proposals, drinks containing more than 8g of sugar per 100ml will face a charge of 24p per litre. Products with between 5g and 8g will see a tax of 18p.

Regular Coke, which has 10.6g of sugar per 100ml, Irn-Bru and Red Bull would all attract the top rate, adding around 8p to the price of a standard 330ml can. But fruit juices, which are higher in natural sugars, and milk-based drinks.

The tax came as a shock to the industry, after ministers appeared to have ruled it out earlier this year. Industry sources said they were told just days before the Budget that there were no plans for a tax.

Coca Cola said it will 'decide on what steps to take' once details of the new levy become clear, while the British Soft Drinks Association said last week: 'Nothing can be ruled out at this stage,' hinting they would launch a legal challenge.

There have been successful challenges to similar taxes in Finland and Denmark. In December, European judges blocked Scotland's plans to enforce minimum alcohol pricing per unit.

It would be another headache for the Chancellor, who is reeling from the resignation from Iain Duncan Smith and his broadside against the Government's austerity agenda, controversy over cuts to welfare and the furore over the levels of tax paid by Google and other multinational firms.

Earlier this week he came under fire after refusing to apologise for planning to slash disability benefits by a further £4.4billion - only to ditch the plans just 48 hours earlier.