The Conservatives have delivered the fastest fall in real wages ever recorded.
That’s right – and you can be sure Tory MPs will be celebrating their achievement in making the pound in your pocket practically worthless to you.
It flies in the face of every claim they’ve ever made in order to get your vote – remember Boris Johnson’s protestation that he was going to deliver a “high wage” economy, only last year? Who was stupid enough to believe that?
But they don’t care because they have feathered their own nests very nicely.
Remember: it didn’t have to be this way. It is Conservative government policies that have put you in a situation where you will not be able to afford the simple necessities of life.
Here’s the BBC:
While average wages rose 4.7% between April and June, that was outpaced by inflation – or price rises – which is growing at a much faster pace.
As a result, the “real value” of pay fell by 3%, according to the Office for National Statistics.
Household budgets are being hit by soaring energy bills as well as higher food and fuel costs.
The rise in prices has fuelled the UK inflation rate to a 40-year high of 9.4% and the latest figure due to be published on Wednesday is forecast to be higher.
The gap between pay growth and inflation is the biggest since records began more than 20 years ago.
Remember when the Tories froze public sector pay for years at a time, and private pay rises were limited to around one per cent per year (except for bosses, who wrote their own cheques as usual, and MPs who have their pay determined by an “independent” organisation that always offers higher-than-inflation pay increases)?
If pay had risen realistically at that time and afterwards, would we have been able to withstand this shock? I ask merely for information.
Wage growth has been behind inflation for most of the Tories’ time in office since 2010. It is Conservative Party policy to ensure that you are paid less, and that you are less able to afford vital goods and services.
It goes back to the “Starve the Beast” plan that George W Bush used in the United States – the idea being that tax cuts make public services impossible to provide and unaffordable to the general public, who are put into permanent wage slavery to pay off the debts they rack up trying to pay for (as an example) health care. Liz Truss is a huge fan of Starving the Beast.
And the government is still trying to fob us off with its usual excuse:
Julie Marson, minister at the Department for Work and Pensions, said… “Being in stable employment is one of the best ways for people to get on.”
This is clearly not true under the Tories.
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