ONS earning stats show pay squeeze continues

EMBARGO: Immediate Release

Responding to the latest earning figures from the ONS which shows regular pay fell by 2.9% in real terms in June to August 2022, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

“The Prime Minister and Chancellor promised high wages and growth, but have given people pay cuts and mortgage pain.

“This out of touch Conservative government is happy to give tax cuts to the richest companies while taking money out of peoples’ pockets during the worst cost-of-living crisis in a generation. Their shambolic budget has made things worse, leaving millions worried about their mortgages.

“The Chancellor needs to scrap his failed budget and come clean with the public about the impact of his disastrous plans, by publishing the independent forecasts straight away."

ENDS

Notes to Editor

ONS Data can be found here.