David Cameron has been in Downing Street for 36 months of falling real wages – more than any Prime Minister on record - according to new analysis of figures from the Office for National Statistics (ONS).
David Cameron has been in Downing Street for 36 months of falling real wages – more than any prime minister on record – according to new analysis of figures from the Office for National Statistics (ONS).
According to the damning figures, no prime minister has seen as many consecutive months where the rate of inflation is higher than annual rise in wages. Prices have risen faster than wages in all but one month of David Cameron’s premiership – and that was April 2013, when Cam cut taxes for the rich and bank bonuses skyrocketed.
Working people are now £1,350 worse off a year in real terms since David Cameron became prime minister in 2010. Things are also set to get worse. Analysis of Office for Budget Responsibility forecasts by the House of Commons Library shows that wages are forecast to be £1,520 lower in 2015 than in 2010 after inflation is factored in.
This means that working people will have lost a total of £6,660 in real terms since May 2010.
Wages have fallen in real terms in every region and nation of the UK, but Yorkshire & the Humber, Wales, the North West and the South West have seen the biggest percentage falls.
Prices have also risen faster in the UK than in any other G7 country in the past three years, and no other G7 country has seen workers’ incomes in real terms fall by as much as the UK.
11 Responses to “Cameron worst PM in recorded history for living standards”
Anthony Masters
According to this graph in the Guardian, there have only been three months since 2008 where nominal wage increases have been larger than price inflation. Though this graph differs from the one in the article, I imagine that the data is similar. https://docs.google.com/spreadsheet/ccc?key=0Asiju4DoCDhScFhNRlEzZTRhRlkxMW9Ra1RfN0ZoWmc#gid=4
Matthew Hardy
and to think, Labour left an economy that was growing strongly out of recession. Yes, they did, most people forget that.
Ariadne Jones
Here’s some more evidence http://kittysjones.wordpress.com/2013/07/22/quantitative-data-on-poverty-from-the-joseph-rowntree-foundation/
Denise Clendinning
In time the interest rates will be going up maybe not now but if they get another term they will rise and watch the shit hit the pan . The country will go bankrupt that,s if this lot get back in and don,t forget the pensioners will cop it if they get in as they have said so anybody who votes Tory next time you must enjoy pain
Eddy Boyband
labour really did leave England in a right old mess