Thursday 26 July 2018 / 9:42 AM Economy / John McDonnell

Brutal Tory pay restraint and austerity has led to living costs outstripping earnings for families – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, commenting on ONS findings showing that UK households’ outgoings have surpassed their income for the first time since 1988, with the average household experiencing a £900 shortfall in 2017, said:

“In the same week that the Tory government delivered a slap in the face to workers over public sector pay, the ONS findings show the disastrous impact of eight years of austerity on the living standards of families.

“For the first time in nearly 30 years, we see average household outgoings surpassing incomes.

“The ONS findings are a stark example of how brutal Tory pay restraint and austerity has led to living costs outstripping earnings for families.”