Just three out of 27 EU countries saw bigger fall in living standards than the UK in past two years since George Osborne's autumn 2010 spending review.
The UK has had the biggest fall in living standards of any EU country bar Greece, Cyprus and the Netherlands in the past two years, according to new figures.
The analysis, commissioned by Labour from the House of Commons library, shows how living standards (measured as real wages – ie wages minus inflation) have changed in every EU country over the last two years since George Osborne’s autumn 2010 spending review.
Labour’s shadow chancellor Ed Balls MP said the figures showed just how far Britain was falling behind the rest of Europe under this government.
“We are losing in the global race with only three out of 27 EU countries suffering bigger falls in living standards than us.
“A flatlining economy under David Cameron and George Osborne over the last two years has made British people worse off, but families, pensioners and businesses cannot afford another two years of falling living standards.”
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38 Responses to “Just three EU countries saw bigger drop in living standards than UK in past two years”
hctinsley
Er, wasn’t there a worldwide economic crisis in 2008? In case you hadn’t noticed, a few other countries apart from the UK had some serious problems.
Newsbot9
Nope, it couldn’t be. Thanks for being wrong yet again though, they’re broadly cost-neutral and your racism remains that.
The falling standards are due to the Tory economic death cycle, and you want to make things far worse by isolating us and costing us tens of billions in trade. The housing shortage is because we haven’t built enough houses…
Keep mindlessly spamming!
Mick
There certainly was but I was just telling Mr. Labour how it wasn’t a suggestion of a great economy but one scraping by.
Mick
The Euro is dummy money, only existing because real money was abolished, with countries in the Eurozone struggling with that thing anyway.
The Euro’s in crisis, something we were told would be a thing of the past if we were in the dummy money. Remember we were booted out of its ERM predecessor because the Germans were a bunch of wankers.
Some co-operative that all is.
Mick
Whether they did or didn’t, austerity or otherwise are chosen for their merits, plus half those countries in the Eurozone are f***ed anyhow.
It’s not about Europe it’s about the recession.