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WORKERS in Britain will miss out on £3,600 in pay this year due to their wages not keeping pace with the average for so-called developed nations, the TUC warned yesterday.
The country’s abysmal wage growth since 2008’s massive financial crash has resulted in 15 years of pay stagnation, with take-home salaries still down 2.7 per cent on pre-crisis levels, the union body said.
By contrast, real pay growth across the 33 members of the Organisation for Economic Co-operation and Development (OECD) has averaged nearly three times that at 8.8 per cent over the same period.
A sharp rise in public-sector investment is required to kick-start the economy, argues MICHAEL BURKE
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