Major Sam Bradshaw, who fought with the 7th Armoured Brigade throughout the conflict, including its famous campaign in north Africa, said he would like to wring David Cameron's neck.
The 93-year-old, from Wigan, said: "To receive the news like this is sad. I just can't imagine the 7th Armoured being without tanks."
Major Bradshaw likened current cuts to the situation in 1939 when hurried preparations had to be made for war and there was a shortage of basic equipment.
He added: "They are just cutting back, cutting back, cutting back. You can't put a price on defence. I won't live to regret it but my thoughts are with the people of the future. I hope they don't have to go through what we went through."
"I wish I could get hold of David Cameron. I would probably wring his neck."
Major Bradshaw is a former chairman of the now-disbanded Eighth Army Veterans' Association, which represented those who fought in the Army - led during the war by General Bernard Montgomery.
The Desert Rats, famous for victories in battles including El Alamein, formed part of the Eighth Army.
The major described how at the end of the war Montgomery had addressed the brigade. "He stood and said with great emotion in his voice '7th Armoured, I owe you so much.'"
Now, crews fighting under the famous black and red badge will now only be equipped with wheeled reconnaissance vehicles.