Tom Blenkinsop, Labour MP for Middlesbrough South and East Cleveland, today (7th August 2012) revealed the full scale of the cost of living crisis facing families in our area under David Cameron.
An analysis of figures from the Office for National Statistics shows that David Cameron has been in Downing Street for 36 months of falling real wages – more than any Prime Minister on record.
Working people in the North East are an average of £1,201 a year worse off in real terms since David Cameron entered Downing Street.
Analysis of Office for Budget Responsibility forecasts by the House of Commons Library shows that, after inflation, wages are forecast to be £1,520 lower in 2015 than in 2010. That means that working people will, on average, have lost a total of £6,660 in real terms while David Cameron has been Prime Minister.
“David Cameron will go down in history as a disastrous Prime Minister for people’s living standards. He’s totally out of touch with what is happening to people on Teesside. His economic policies have failed and the result is that families are massively out of pocket.
“By 2015, official forecasts show that working people will have lost an average of £6,660 after five years of the Tories. Yet millionaires have got a huge tax cut from this Government. Far from ‘never having it so good’, many working people have never had it so bad. Prices have risen faster than wages in 36 out of the 37 months that David Cameron has been in Downing Street. This is the worst performance of any Prime Minister on record.
“Labour would help families right now with a lower 10p starting rate of tax – which would benefit 957,000 people in our area; by tackling soaring energy bills and protecting tax credits for working families by reversing David Cameron’s millionaire’s tax cut.”