Wages Not Set To Recover Until At Least 2024
A new wages forecast came out with today's Budget, but it is not great news for working people.
New economic forecasts published for today’s (Monday) Budget by the Office for Budget Responsibility show that UK wages are not expected to return to their pre- financial crisis peak until at least 2024.
This would mean UK workers waiting a total of 16 years from the financial crisis in 2008 until their pay is fully recovered – the longest wage slump in 200 years.
TUC General Secretary Frances O’Grady said:
“This government has abandoned working people, who are still worse off than a decade ago. Their priority is giving tax breaks to big business and the wealthy.
“It’s time for a change for working people and their families. We need a plan to improve jobs and wages. That means putting the minimum wage up to £10 per hour now. And it means giving unions the freedom to enter every workplace and negotiate fair pay rises.”
Wages Not Set To Recover Until At Least 2024, 29th October 2018, 19:10 PM