Latest editorial
AUSTERITY-hit workers are now a whopping £11,000 a year worse off following a decade and a half of wage stagnation, a major think tank warned today.
In new figures shared with BBC Panorama, the Resolution Foundation said that, had salaries continued to grow at the pace seen before the 2008 financial crash, the average worker would now be making £11,000 more per year, when adjusted for inflation.
Incomes for the typical British household have also fallen further behind those in Germany, the independent organisation added, from more than £500 per annum 15 years ago to a mammoth £4,000 now.
If the government really wanted to address public finances, improve living standards and begin economic recovery, it would increase its borrowing for investment, argues MICHAEL BURKE
Under current policy, welfare cuts are just a small downpayment on future austerity, argues MICHAEL BURKE
Exempting military expenditure from austerity while slashing welfare represents a fundamental misallocation of resources that guarantees continued decline, argues MICHAEL BURKE
