Workers in Basingstoke are set to see wages fall by £1268.05 by 2023

New figures published today by Basingstoke Labour Party reveal the staggering hit to wages facing local people by 2023. Analysis shows the average earner in Basingstoke & Deane will see their real earnings fall by £1268.05 by 2023

Not only will working people be hit with the biggest tax burden since the 1940s – but living standards look set to plummet at the fastest rate since records began in the 1950s

Labour’s Shadow Chancellor has called on the government to scrap the damaging, unfair National Insurance rise, and to choose a one-off windfall tax on oil and gas producer profits instead – to take up to £600 off the energy bills of households struggling with the cost of living crisis.

Basingstoke Labour Party Communications Officer and Labour Candidate for Winklebury & Manydown, Alex Lee said:

“The cost of living crisis is hammering families across Basingstoke & Deane. But all we got from the Chancellor in his Spring Statement last week was a promise of jam tomorrow rather than the support that is needed now – and now we learn that workers in the area are facing a sharp squeeze on their wages, losing £1268.05 from their pay packets by next year.

“We’ve got to get a grip on spiralling inflation and the rising cost of living crisis which is leaving people worse off.

“Not only is it leaving people worse off and worried about paying the bills – it’s stopping their spending going back into our local economy so our local businesses and growth are suffering.

“Last Wednesday was the day for the Chancellor to scrap his unfair tax hike on working people and on businesses. It was the day for him to bring in a one-off windfall tax on oil and gas producers, to take up to £600 off people’s energy bills. It was the day to set out a plan for British businesses.

“To top it off, at the last full council meeting in Basingstoke, local Conservatives voted to increase council tax and charges for the valued services that residents use to pay for the pay rises for local Conservatives. Whilst hard working council staff were offered 1.75%, senior Conservatives in Basingstoke will see their allowances rise by over 6%. They had an opportunity to support residents of Basingstoke but didn’t.

“In failing to do any of these, the Chancellor, and the Basingstoke Conservatives made the wrong choices for Basingstoke & Deane, and our country.”