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Breach of employment contract

I accepted an offer of employment and both the employer and myself signed contracts on 31st October 2011 with a start date of 7th February 2012.I gave notice to my then employer and left them at the end of November.

On 26th January I was advised that the contract was being "withdrawn" and that the post was no longer on offer.The reason given was "changes to the priorities of the business". They are going to pay me one week's money as the contract calls for one week's notice during the initial period.However I turned down a further offer which was extended to me one week after signing this contract and have been unemployed since 1st December and no doubt will be for some time to come.

Surely this is breach of contract and there should be compensation to match the distress and impact caused?

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