UK set for worst wage growth since the 1920s, Labour research finds
Owen Smith, the shadow work and pensions secretary, condemned a ‘Tory decade of low pay’ [Image: Matthew Horwood/Getty].
While much of the media seem to be speculating on an alleged shadow cabinet reshuffle, Mr Smith is carrying out the duty of an Opposition party and calling the Conservative Government to account for its failings.
Let’s all make sure the word gets out, shall we?
The 10 years between 2010 and 2020 are set to be the worst decade for pay growth in almost a century, and the third worst since the 1860s, according to new research.
Research from the House of Commons Library shows that real-terms wage growth is forecast by the Office for Budget Responsibility to average at just 6.2% in this decade, compared with 12.7% between 2000 and 2010.
The figures show that real-terms wage growth was lower only in the decades between 1920 and 1930 and between 1900 and 1910. Wage growth averaged at 1.5% in the 1920s and at 1.8% in the 1900s.
Owen Smith, shadow work and pensions secretary, who commissioned the research, said that a “Tory decade of low pay” would see “workers’ pay packets squeezed to breaking point”.
Source: UK set for worst wage growth since the 1920s, Labour research finds | Politics | The Guardian
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There is a little to go yet maggy said she would get us back to the 30s that’s the 1830
Not just the workers getting a raw deal under the tories.
Because forcing millions into using expensive credit cards for everyday living expenses makes trillions for the bankers.
Giving a decent wage doesn’t.
Debt slavery.
As the “sharing economy” rapidly transforms into the “share-the-crumbs economy,” multi-billion Pound City crooks are profiting from free taxpayers money (free money) and legal loopholes while full-time, living-wage jobs disappear at an alarming rate. The ugly details are muted by the so called misinformation media as, once again, the peasants enrich the so called Elite.
HSBC leave UK?, not in a thousand years, you could n0t bomb this City crap away from the taxpayers money trough.