Coronation Parade, 42 Cannon Lane, Pinner, Middlesex HA5 1HW

Call 020 8429 3636 - email

Business group brands UK wage squeeze 'worst in modern history'

The Trades Union Congress has branded the UK's current 'wage squeeze' as the 'worst in modern history'.

14 May 2018

The Trades Union Congress (TUC) has branded the UK’s current ‘wage squeeze’ as the ‘worst in modern history’.

An analysis of Office for National Statistics (ONS) figures carried out by the TUC suggested that wages are on course to recover at the ‘slowest pace in 200 years’.

It also found that, a decade on from the financial crisis, real wages are worth £24 a week less when compared to 2008. According to the TUC, real wages are not set to return to pre-crash levels until 2025.

The business group found that wages recovered more quickly after the Great Depression and the Second World War than they have following the 2008 financial crash.

Commenting on the matter, Frances O’Grady, General Secretary of the TUC, said: ‘UK workers are suffering the worst pay squeeze for two centuries.

‘Millions of kids are growing up in poverty despite having parents in work.

‘We need great jobs in every region and nation of the UK, and higher wages for all workers, not just the bosses.’ 

Responding to the TUC analysis, a spokesperson for the Treasury stated: ‘Our National Living Wage (NLW) has boosted pay for the lowest earners by over £2,000 already; we are cutting taxes to help people keep more of what they earn; and we are making sure people have the skills they need to secure high-quality, well-paid jobs by investing in technical education and boosting apprenticeships.’

Try a site search Tax return, dividends, pension, spring statement...

Home | Attribution | Contact us | Site map | Accessibility | Disclaimer | Privacy Notice | Help | Search |

Dewanis is a trading name of Dewanis Limited, a company registered in England company No: 06324851. VAT Registration No: 997 6860 34. Director: Ragesh K Dewani ACIB FCA, Registered office address: Coronation Parade, 42 Cannon Lane, Pinner, Middlesex HA5 1HW.

Registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales
A member of the ICAEW Practice Assurance Scheme.

© 2018 Dewanis Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.