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Tuesday, December 06, 2022

Report a record drop in wages in the UK

London, Aug 16 (Pressa Latina) Real wages in the United Kingdom fell by three percent in the second quarter of 2022 due to rising inflation, the Office for National Statistics (ONS) reported today.

According to the official unit, this is the biggest drop in the purchasing power of wages earned by British workers since 2001, and this despite the fact that the average wage increase during the same period was 4.7 percent.

Last June, the ONS itself reported that inflation reached 9.4 percent, its highest level in the past 40 years, and is expected to reach 11 percent in the final quarter.

The crisis translates into increased electricity rates for millions of households, and food and fuel prices, for which unions demand wages commensurate with the inflation rate.

Thousands of workers, including train drivers and London Underground workers, postal workers, lawyers, have held intermittent strikes or are preparing to go on strike in the coming weeks to demand that their demands be met.

The Conservative government set out an aid package that includes giving 400 pounds sterling (about $500) to each household to offset the rise in electricity and gas prices, but interim Prime Minister Boris Johnson acknowledged last week that they would are insufficient.

Johnson, who stepped down last July, is under pressure to take further steps to reduce the cost of living, but said the task was to be done after winning an internal leadership contest between former finance minister Rishi Sunak and Chancellor Liz Truss. will fall on the candidate.

Labor leader Keir Starmer advocated a day earlier to halt a new increase in the energy rate to be implemented in October, as part of a strategy that his party would implement if voted to power in the face of the crisis.

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