Real wages collapsing in Basingstoke down £1,340.51 in just one year – new analysis
New figures from the ONS reveal that real wages (excluding bonuses) are falling at their fastest rate in more than a decade – 3.7% in just one year.
New analysis published by Basingstoke Labour reveals that the average worker in Basingstoke has suffered a reduction of £1,340.51 in the last 12 months.
Labour has a plan to tackle the cost of living crisis which will:
- Cut VAT on home energy bills
- Reduce energy bills by insulating 19 million homes
- Cut small business rates
- Buy, make, and sell more in Britain
Publishing the new analysis, Labour Councillor for Winklebury & Manydown and Communication Officer for Basingstoke Labour said,
“This Conservative Government has downed tools while the rest of us face the worst cost of living crisis in generations.
“Wages are collapsing in Basingstoke and we are all feeling the pinch – yet this zombie government is nowhere to be seen. But Labour has a plan to help families in Basingstoke now. We would cut VAT on energy, insulate homes to lower bills, cut small business rates and buy make and sell more in Britain.
“This Government is stale, failing, and out of ideas, and the Conservatives are too busy fighting amongst themselves to act. It’s time for a fresh start with Labour.”