ONS earnings figures: Economic mismanagement is leaving pay packets stretched further than ever

EMBARGO: Immediate release

Responding to the latest ONS labour market and earnings figures which show pay falling in real terms, Liberal Democrat Treasury spokesperson Sarah Olney MP said: 

"This Government's economic mismanagement is leaving pay packets stretched further than ever before just as bills spiral out of control. 

"This is the worst cost of living crisis in a generation and Thursday is judgement day for the latest Conservative Chancellor in post. He cannot make the same mistakes as his predecessors who crashed the economy and left families to pick up the bill.

"Thanks to the Conservative party's botched budget and reckless mismanagement of the economy, homeowners are being forced to pay hundreds of pounds more a month on their mortgage whilst their take home pay is eaten away by inflation. The public will never forgive Conservative MPs for this."

ENDS

Notes to Editors: 

Source here: In real terms (adjusted for inflation) over the year, total pay fell by 2.6% and regular pay fell by 2.7%.