Monday 10 April 2017 / 2:29 PM 2017 Press Archive / The Latest from Labour

Today’s IMF report reveals the reality of seven years of Tory economic failure – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor,
responding to today’s IMF report on the downward trend in labour income
shares, said:

“Today’s
IMF report reveals the reality of seven years of Tory economic failure. 

“The
share of national income going to workers in wages has fallen since 2010. This
is yet more worrying news for working people who have suffered from stagnating
wages and a decline in living standards, with nearly six million people being
paid less than the living wage.

“That’s
why today Labour is announcing that  we will introduce a real Living Wage
of £10 per hour from 2020. Only Labour will ensure workers are able to share in
rising prosperity and higher living standards.”