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Responding to the earnings chapter published today (Friday) from the forthcoming Institute of Fiscal Studies (IFS) Green Budget, TUC General Secretary Frances O’Grady said:

“The biggest living standards squeeze since records began is nothing to celebrate, with everyone a loser from falling pay.

30 January 2015

Responding to the earnings chapter published today (Friday) from the forthcoming Institute of Fiscal Studies (IFS) Green Budget, TUC General Secretary Frances O’Grady said:

“The biggest living standards squeeze since records began is nothing to celebrate, with everyone a loser from falling pay.

“At the wealthier end, losses have been offset by rising property values. But everyone else has been hit by a triple whammy of falling pay, cuts to in-work support like tax credits, and cuts to the services they depend on. And the future cuts in George Osborne’s plans mean years more pain to come.

“We must do far more than hope for a lucky run of low inflation figures to restore wages. We need much stronger wage settlements and more investment in high skilled jobs and a high productivity economy.”

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Alex Rossiter  T: 0207 467 1285  M: 07887 572130  E: arossiter@tuc.org.uk
Tim Nichols  T: 020 7467 1337  M: 07876 452902  E: tnichols@tuc.org.uk
Clare Santry  T: 020 7467 1372  M: 07717 531150  E: csantry@tuc.org.uk

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