David Cameron is worst PM for living standards on record as working people
set to lose £6,660 by 2015.
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Cheers for nothing! |
Labour is today revealing the full scale of the cost of living crisis under
David Cameron.
Analysis of historical figures from the Office for National Statistics shows
that David Cameron has been in Downing Street for 36 months of falling real
wages – more than any Prime Minister on record. And no Prime Minister has seen
so many consecutive months of falling real wages.
Prices have risen faster than wages in all but one month of David Cameron’s
premiership – and that was in April 2013 when he cut taxes for millionaires and
bank bonuses soared. No other Prime Minister since records began comes close to
the disaster for family living standards David Cameron has overseen.
Working people are today an average of £1,350 worse off a year in real terms
since David Cameron entered Downing Street. And official forecasts show just
how much working people are set to be worse off after five years of this
Conservative-led Government.
Analysis of Office for Budget Responsibility forecasts by the House of Commons
Library shows that, after inflation, wages are forecast to be £1,520 lower in
2015 than in 2010. This means that working people will, on average, have lost a
total of £6,660 in real terms while David Cameron has been Prime Minister.
Labour’s parliamentary candidate for South
Basildon and East Thurrock, Mike Le-Surf said:
“Since 2010 wages have fallen in real terms in
every region and nation of the UK and in the East of England they are
down 7% which is an average £32.10 a week
and £1,669 over the year. We need a level playing field for all, not tax cuts for the richest while we all suffer.”
And over the last three years since this Government came to office prices have
risen faster in the UK than in any other G7 country and no other G7 country has
seen workers' incomes in real terms fall by as much as the UK.
Chris Leslie MP, Labour’s Shadow Financial Secretary to the Treasury, said:
“David Cameron will go down in history as a disastrous Prime Minister for
people’s living standards. He is totally out of touch, his economic policies
have failed and the result is working families are massively out of pocket.
“By 2015, official forecasts show working people will have lost an average of
£6,660 under five years of the Tories. Yet millionaires have got a huge tax cut
from this Government.
“Far from never having it so good, many working people have never had it so
bad. Prices have risen faster than wages in 36 out of the 37 months since David
Cameron has been in Downing Street. This is the worst performance of any Prime
Minister on record.
“Labour would help middle and low income families right now, including a lower
10p starting rate of tax, action to tackle soaring energy bills and protecting
tax credits for working families by reversing the tax cut for millionaires.”