Chancellor George Osborne has come under fire for failing to remember the last time he bought a pasty from Greggs.

Appearing before a Commons Treasury Committee, in the wake of his proposals to close a VAT loophole on hot food to go, Osborne admitted to Labour MP John Mann “I can’t remember the last time I bought a pasty in Greggs”. Mann replied “That kind of sums it up”.

Greggs’ shares fell sharply last week after Osborne announced in the Budget that VAT would be added to hot takeaway foods sold by retailers. The move is expected to hit Greggs hard because a large chunk of its offering comprises of freshly baked products like pasties and sausage rolls.

Meanwhile, Greggs boss Ken McMeikan accused Osborne of having “lost touch” on BBC Newsnight.

“I think to a degree they have lost touch with the issue here - that for ordinary, hard-working families putting 20% on to a product that is freshly baked actually is going to make a severe dent in their pockets when they can ill afford it,” he said.