INFLATION: Conservative choice to hold down pay behind prices is harming the UK economy

Commenting on today’s (Wednesday) inflation figures, which show CPI at 10.1% and RPI at 13.4%, TUC General Secretary Paul Nowak said:

"With inflation still at more than 10%, working people are feeling the squeeze. Real wages fell faster last year than they have in decades – worse even that during the financial crisis.

“That’s why working people are desperate for a government with a plan to get pay rising. But instead, we have a Prime Minister determined to hold down pay and refusing negotiate.

“Whatever Sunak thinks his plan is, it has failed. The Tory pay squeeze has sucked the life out of our economy and left us on the brink of recession. We need a reset at the budget – a plan to get wages rising across the economy, and funding for public sector pay.”