ECONOMIC experts will today explode the myths peddled by George Osborne to justify massive cuts as the Tory Chancellor prepares more punishment for the poor. 

A line-up of leading economists will launch a counterattack against austerity arguments at a People’s Assembly rally in London this evening. 

They will tear apart the austerity lies told by the Chancellor before he tries to spin the same lines in Parliament as he unveils the Autumn Statement on December 3.

People’s Assembly national secretary Sam Fairbairn told the Star: “It beggars belief that Osborne continues to trumpet the success of austerity when, even on their own terms, austerity has failed. 

“Government debt has grown and the deficit is soaring, let alone the human cost of austerity to the millions who are being forced below the poverty line in Britain.”

The 10 top myths told by Mr Osborne are taken apart in a new leaflet being launched by the People’s Assembly at the rally. 

It shows how austerity has caused the steepest decline in living standards since records began in 1856 — but also caused Britain’s deficit to soar beyond £100 billion in the last year. 

Mr Osborne has been forced to borrow more in four years than the last Labour government did in 13 as a consequence, it adds. 

“There is an enormous gap between the claimed successes and the reality,” writes economist Michael Burke in today’s Morning Star. 

Mr Burke will speak at this evening’s rally alongside fellow James Meadway of the New Economics Foundation and Ann Pettifor from Prime Economics. 

The meeting is preparation for the People’s Assembly’s march on Downing Street on the eve of the Autumn Statement.