Wage squeeze is the longest in over 50 years

According to a recent report by the Office for National Statistics real wages have been dropping consistently since 2010 – the longest period of falls since at least 1964.

They cited shorter working hours and reduced output as factors behind falling wages.

Commenting on the figures Labour MP for Middlesbrough South and East Cleveland, Tom Blenkinsop, said:
“To many of my constituents these figures won’t come as a surprise. They have seen their wage squeezed by over 25% in real terms since 2010 – that is £116.93 per week.

“But this is just further proof that we are facing a cost-of-living crisis under the Coalition Government as living standards are facing a squeeze unlike any in the last half century.

“Labour would tackle the cost-of-living crisis by strengthening the minimum wage, introducing a lower 10p starting rate of tax and expanding free childcare for 3 and 4 years olds to 25 hours per week.

“Rather than helping hard-working families in Middlesbrough South and East Cleveland, David Cameron is again choosing to stand up for just a privileged few at the top. In 2013, Cameron gave people earning over £150,000 a year a big tax cut. Now he’s paving the way for yet another cut to the top rate of tax, a further tax giveaway for millionaires.”

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