CHANCELLOR George Osborne stopped short of cancelling Christmas yesterday - but revealed two more cold winters of callous cuts are stashed under the Tory tree.

Mr Osborne proudly unwrapped plans to slash public spending by another £25 billion if the nasty party are gifted another term in government.

And he warned there would be "very substantial savings" to address his £90bn deficit, which he originally promised would be gone by May 2015.