2% fall in real household disposable income is bad news for working families – Dowd

Peter
Dowd MP, Labour’s Shadow Chief Secretary to the Treasury, commenting on today’s figures
showing a 2 per cent fall in real household disposable income, said:

“Falling household incomes are just the latest example of the economic
failures of this government.

"The largest fall in household income per head in six years is deeply
concerning as it further suggests that wages are not keeping up with prices,
and the government have no answers to this serious problem.

"Along with stagnant GDP per person, it’s more bad news for working
families. And it further exposes the economic record of the Tories, who have
overseen falling living standards since coming to power in 2010.

"It’s clear we need investment to create the high skill, high wage economy
of the future. The Tories could start to help ease the burden on hard working
people by lifting their public sector pay cap, and end the cuts to in-work
benefits.”

Ends