The IFS analysis of the spring statement published today (Thursday) shows that since taking office in 2010 the Conservatives have presided over an unprecedented period in which real pay has fallen. Their analysis shows:
TUC General Secretary Frances O’Grady said:
"The IFS analysis shows that the Conservatives are the party of pay cuts.
“They have imposed real pay cuts on millions of workers year after year. Their famous ‘long-term economic plan’ led to pay falling across the economy. And this year, working people will suffer an average real pay cut of more than £500.
“Working people are desperate for a plan to get pay rising at the heart of UK economic policy.”
- IFS spring statement analysis: The full IFS analysis is here: https://ifs.org.uk/publications/16003
- The UK’s exceptional pay squeeze compared to other countries: Last week the TUC published research showing that the UK is one of just 7 out of 33 OECD countries where real wages have fallen between 2007 and 2020. Average wage in UK would be £76 per week higher if growth had kept pace with the OECD average since the financial crisis. Full details here: https://www.tuc.org.uk/news/uk-workers-miss-out-ps4000-pay-growth-compared-oecd-average-2007-tuc-analysis
Want to hear about our latest news and blogs?
Sign up now to get it straight to your inbox
To access the admin area, you will need to setup two-factor authentication (TFA).