Thursday, 13 June 2013
Wage cuts for British workers deepest since records began
Britain's workers have suffered more financial pain since 2008 than in any five-year period of the modern age, according to research by a leading tax think tank that shows employees have sacrificed pay to keep their jobs.
Describing this downturn as the longest and deepest slump in a century, the Institute for Fiscal Studies says workers have suffered unprecedented pay cuts of 6% in real terms over the last five years.
Historically, real wages rise by about 2% a year. This suggests that people are more than 15% worse off than they would have been if the pre-crisis wage trends had continued. read more: The Guardian
Does anyone find it cruelly ironic that the Labour Party, the supposed champions of the British workers are the very people who created this situation where British workers are now at the mercy of their employers?
Since Labour wilfully set about opening the immigration floodgates the labour market in this country has changed out of all recognition. Instead of employers having to pay a decent days pay for a decent days work, now they can hire and fire at will safe in the knowledge that thanks to the Labour policy of open door immigration there is now a bottomless pool of cheap exploitable labour at their disposal.
Will the workers of this country ever wake up to what the Labour Party truly represents? Tameside Citizen