British workers have suffered the biggest fall in the value of their wages of any of the world's wealthiest countries, according to a new study from the TUC.
British workers have suffered the biggest fall in the value of their wages of any of the world’s wealthiest countries, according to a new study from the TUC.
Workers in Britain have seen their pay drop by 4.5 per cent in real terms between 2007 and 2011, worse even than Italy and Japan.
Tellingly, however, most of the slump occurred during 2011, the first full year after George Osborne announced the government’s austerity measures, as the graph below shows.
The TUC’s general secretary Frances O’Grady said that the government’s “blind obedience to self-defeating austerity” was to blame for the squeeze on living standards.
Left Foot Forward recently reported that just three EU countries saw a bigger drop in living standards than the UK in past two years.Like this article? Sign up to Left Foot Forward's weekday email for the latest progressive news and comment - and support campaigning journalism by making a donation today.
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