The latest consumer price inflation (CPI) data showed a sharp acceleration in prices increases. This will have a negative effect on real wages and real incomes, once inflation is taken into account. Most workers are facing flat wages and the poor, who rely on social welfare and are seeing freezes or cuts, will all be […]
Posts Tagged ‘Wages’
Corbyn is right: Migrants don’t drive down wages
Oct 18th, 2016 by Tom O Leary.In his recent speech to Labour Party conference Jeremy Corbyn said, “It isn’t migrants that drive down wages, it’s exploitative employers and the politicians who deregulate the labour market and rip up trade union rights.” This is excellent and entirely correct. It is probably the best statement ever made by a Labour leader on this […]
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Why are all 3 parties fixated on stagnation, falling wages, rising debt & inequality?
Jul 21st, 2014 by Michael Meacher.It is often said that when all three political parties are locked together on the same idea, it is bound to be wrong. Given the Tory-LibDem coalition determination to continue austerity unabated throughout the next Parliament, it is sad to see Ed Miliband telling the NPF forum over this weekend that “we won’t have the […]
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If this is a recovery, why are we getting poorer?
Apr 11th, 2014 by Michael Burke.At a certain point this year GDP will finally recover its pre-recession peak, 6 years or more after the recession. This will be the longest British slump in living memory and the most severe downturn since the Great Depression. The government and supporters of austerity are keen to emphasise the fact that the economy is […]
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Another financial tsunami: the massive shift from wages to profits
Apr 4th, 2011 by Michael Meacher.Unnoticed in the austerity-driven travails following the financial crash lies another tectonic shift. According to research by the US bank Morgan Stanley, since the start of the ‘recovery’ in 2009-10 total real wages have risen by £105bn, but profits have soared by £330bn. This is the first time that profits have outperformed wages in absolute […]
