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George Osborne's eighth Budget is yet more of the same from a Chancellor who typically delivers red books that garner headlines but soon unravel.

Yesterday's statement once again showed at its heart the failure and unfairness we have now come to expect from this very political Chancellor, more and more concerned about his leadership ambitions than the economic wellbeing of families across the country.

Budget 2016 confirms the Chancellor is failing not only on our terms, but critically on his own terms. He was forced to admit he will break two of his three treasured fiscal rules.

His failure will be of concern to every household in the country, whose economic security under his stewardship is increasingly at risk.

Growth, wages, investment and productivity advances have all been revised down; down last year, this year and every single year in the rest of this Parliament. So much for fixing the roof.

Growth, we were told in the November Autumn Statement, would be 2.4 per cent this year.

But now only a few months later this has been revised down to just 2 per cent.

(Image: PA)

If that wasn't bad enough now we learn other key economic indicators have also been revised down. In November we were told business investment would be 7.4 per cent this year.

Now, again, only a few months later this has been revised down to just 2.6 per cent. The same has happened to earnings and productivity.

Household incomes, standards of living and the future prosperity of families are increasingly at risk under George Osborne.

This risk has fed through to the nation's finances, meaning the Tory Chancellor is borrowing more than he planned.

With that record on borrowing let's have no more Tory hypocrisy about Labour's borrowing.

A year ago, in the 2015 Budget the Chancellor boasted that the "original debt target I set out in my first Budget has been met".

Now he has confirmed that this is no longer true. The weakening economy means that over the course of the Parliament he will borrow £38 billion more than he said to just four months ago, £1,400 more per household.

Yesterday, George Osborne chose to respond to his failure by taking the axe to the most vulnerable, while prioritising unfair tax changes.

Capital Gains Tax was cut, at a cost of £735 million by 2020-21.

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This is despite the fact that in his first Budget in 2010 George Osborne himself said that "capital gains should increase in order to help create a fairer tax system".

It now appears the Chancellor doesn't want a fairer tax system. He also doesn't want to protect the most vulnerable from his cuts. It was confirmed yesterday that half a million people with disabilities are going to lose over £1 billion in Personal Independence Payments.

The scorecard in the Red Book confirms that almost a third of the net savings raised by yesterday's Budget in 2020-21 are set to come from cuts to PIP.

Isn't it obscene that the biggest single revenue raiser across the Parliament in this Budget comes from George Osborne's cuts to PIP?

Read more:3 things Nicky Morgan said about disability cuts on Question Time that weren't strictly true

The infamous omnishambles Budget taught us that nasty surprises usually lurk in the small print of George Osborne's Budgets. This year's is no different.

We learnt that taxpayers face a £20 billion loss on the sale of RBS shares and that the Chancellor's much vaunted bank surcharge is set to bring in £700 million less across the Parliament than promised back in November.

But we shouldn't be surprised.

This is more of the same from a Chancellor who has broken his promises on the economy and who has chosen yet again to levy the repercussions not on those with the broadest shoulders, but on those least able to afford it.

Once again this was an unfair and failing Budget for which the British public is paying the price.