The government's decision to offer a £100bn boost to banks while failing to bailout Britain's biggest independent oil refinery has been decried as "the clearest evidence possible" of double standards by the coalition.
The boost, which the Federation of Small Businesses welcomed cautiously saying they wanted decisions from the government resulting in "long term growth" rather than a "short-term spike", was announced by Chancellor George Osborne on Thursday evening during his Mansion House speech.
But less than 12 hours after the announcement, it emerged that no state aid would be provided for the Coryton oil refinery, putting 850 jobs at risk.
Unite General Secretary, Len McCluskey told The Huffington Post UK it was "the clearest evidence possible of the double standards operated by this economically disreputable coalition."
"Last night, the Chancellor, George Osborne pledged to pump in at least £100bn into the banking system to boost lending - which bankers should be doing anyway as that's their job - in an attempt to build a financial firewall against the situation in Greece."
"Yet, a similar request from Unite for state aid in the short term to tide over Coryton until a viable buyer is found to take over the oil refinery is dismissed by ministers out-of-hand."
The union described the move as a "kick in the teeth" for workers.
A DECC spokesperson said it was a "difficult decision" and "regrettable" that so many people will lose their jobs.
“Departments across government have looked very carefully at whether or not State Aid should be provided for Coryton. But we have come to the conclusion that the existing overcapacity in the refining industry and declining demand for petrol mean that it would not be sustainable," they said.
Under Osborne's 'funding for lending' scheme British banks - facing higher funding costs and under pressure to put more capital aside - will be offered vital funding at low interest rates.
It means that banks will be offered cheap loans by the Bank of England, provided they lend the money onto businesses and consumers.
John Walker, the Federation of Small Businesses' National Chairman said in a statement they were "pleased" with the funding, but added: “There must be a clear reporting process to provide tangible evidence the money is being passed on to small firms and not just shoring up the banks."
Shadow Chancellor Ed Balls was critical, saying the proposals "do not go far enough".
"The Governor is now recognising what the Chancellor still refuses to - that urgent action to stimulate the British economy is needed now that we are in a double-dip recession."
Ed Balls has said that flooding the economy with money will not solve the lack of confidence. He said the banks need nourishment not 'Lucozade'
Thurrock council has commissioned an economic impact assessment on the closure or change of use of the site, finding it would cost £3m in wages, £26m in contractor costs, £6m in locally sourced materials, £40m spent on chemicals and utilities, and £5m in business rates.
McCluskey said: "Osborne will cite that propping up the banks is in the national interest - but so is ensuring the security of oil supplies without which the lights would go off very quickly across the Britain.
To date, the banks have sat on every penny this country has given them, but we know that short-term help for Coryton would keep thousands of people off the dole queue, in work and a community alive."
"The people of Essex are suffering because the Chancellor does not see their need to be as pressing as that of his friends in the City."
"The hypocrisy of this government's mantra: 'We are all in this together' is breath taking."
Tory MP Stephen Metcalfe for South Basildon and East Thurrock told the BBC there was a "human cost" to the closure of Coryton.
"I am working very hard, both on the floor of the House of Commons and behind the scenes, to try and present an alternative view to the department, and therefore to ministers and the government, that would allow them to look again at this issue."
The British Chamber of Commerce has argued Osborne's schemes need to work for the "real economy", saying in a statement:
"Too many question marks remain over how the two new schemes will work. How, for example, will the Funding for Lending scheme be set up and monitored so that it does in fact deliver money to the real economy? Without more detail, followed by swift implementation, the future success of these schemes is still unclear."