Real earnings have fallen by 10.4 pc since the credit crunch began in 2007 says the Guardian – making Britain equal bottom on the wages growth table, alongside Greece. The Trade Union Centre found that over the 2007-2015 period wages have grown by 23 pc in Poland, 14 pc in Germany and 11 pc in France. The UK, meanwhile, has seen a fall, alongside Greece and Portugal. ‘Wages fell off the cliff after the financial crisis, and have barely begun to recover,’ said Frances O’Grady, the TUC general secretary. The Treasury hit back, saying that earnings are only one indication of living standards – levels of employment, taxes and benefits also come into play. But, toeing the new party line, they added ‘There is more to do to build an economy and country that works for everyone not just a privileged few, and we are determined to do exactly that.’
Our money is trapped in our houses, reports the Daily Mail.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in