YEARS of falling wages after more than a decade of Tory austerity have left workers over £1,000 a year worse off, Labour warned today.

Office for National Statistics data shows that the average worker has suffered an annual pay cut of £1,040 since the Conservatives came to power in 2010, the party said.

If adjusted for inflation during the period, the average weekly wage should be £609.40, Labour said, but the actual figure is £589.70 — a reduction of £20 per week, totalling £1,040 a year.