John McDonnell responds to IFS analysis showing people’s real annual wages are £800 lower
John McDonnell MP, Labour’s Shadow Chancellor, responding to analysis from the Institute for Fiscal Studies showing that since the crash a decade ago on average people’s real annual wages are £800 lower, said:
“This dramatic slump in the wages of workers shows the disastrous impact of nearly a decade of austerity on living standards, with people massively losing out during the years of Tory rule.
“Brutal Conservative pay restraint and austerity has hit workers in the pocket and is further proof that the Tories cannot be trusted on the economy.
“The next Labour government will end austerity and introduce a real living wage to stop the fall in real wages for workers.”