SUBVERSIVE advertising posters took over central London yesterday as part of a pre-election campaign to bust the austerity myth.

The Cut Austerity “subvertising” campaign was launched by activist group UK Uncut at Euston, Holborn and Kings Cross.

The colourful ads feature thought-provoking statistics about today’s Britain and include the slogan: “They bailed out the banks with our money. A third of UK children live in poverty. It doesn’t have to be this way.”

Cut Austerity spokeswoman Sandra Felling said: “This election season we will see the same old guys in ties — Cameron, Farage, Clegg and Miliband — pushing their brutal policies which promote austerity and punish the poor, women, migrants and children for the actions of bankers and politicians.

“They are slashing libraries, hospitals and children’s centres while the rich get richer and private companies profit from the sell-off of cut-back services.

“This is a political choice, not a necessity.”

The posters — in bus shelters across the capital — call for action against “election lies, cuts and austerity.”

They quickly became popular on the internet, with hundreds sharing the message on Facebook and Twitter.

“We all deserve decent homes, healthcare and welfare. It’s private companies and the rich who are scrounging off the state, not us,” added Ms Felling.

“No matter who’s elected in May, it’s up to all of us to cut austerity.”