The opposition Labour Party analysis found that workers would have an income of £1,520 lower in real terms in 2015 as compared to what they earned in 2010. This means that working British will have lost £6,660 by the time of the next election, taking into account inflation.
According to figures provided by Office for National Statistics (ONS) and analyzed by shadow Treasury minister Chris Leslie œthe amount of money working people will have lost in real terms under coalition rule would be enough to pay for the average family weekly shop for a year-and-a-half”.
Figures showed spending power under coalition government™s rule has fallen in every month but one as price rises outstrip wage increases.
This means Prime Minister David Cameron™s record of 35 consecutive months of falling real wages is worse than any other Prime Minister on record.
“I thought it (living standards) would be worth looking at if we’re starting to focus on that 2015 election period and people are starting to evaluate ‘well what will David Cameron’s legacy be for me?’ It is a reduction in real wages over that period of £6,660 which for a lot of people will resonate. It is a significant, serious amount of money”, said Leslie, shadow financial secretary to the Treasury.
“That’s enough to pay for the average family weekly shop for almost a year-and-a-half, it’s enough to get a new car, albeit quite a small one at a stretch, but it’s quite a significant sum of money”, he added.
“David Cameron will go down in history as a disastrous Prime Minister for people’s living standards. He is totally out of touch, his economic policies have failed and the result is working families are massively out of pocket”, Leslie noted.
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Republished from: Press TV
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