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.
Exempting military expenditure from austerity while slashing welfare represents a fundamental misallocation of resources that guarantees continued decline, argues MICHAEL BURKE
