Working people are facing two decades of lost living standards

Commenting on the IFS and Resolution Foundation overnight analysis of the Autumn statement, TUC General Secretary Frances O’Grady said:

“We need an economy that rewards work – not wealth.

“But working people are facing two decades of lost living standards.

“The Tories are presiding over the longest real wage squeeze in more than 200 years.

“They are holding down the pay of key workers across the public sector, while telling bankers to help themselves to unlimited bonuses.

“They crashed the economy – and now they are marching the country into recession and making working people take the hit.

“That is the price of 12 years of Conservative government.

“If we don’t get pay rising across the economy, we will just keep lurching from crisis to crisis.

“It’s time to stop the rot. Households up and down the country are at breaking point.”