Research shows decline in living standards

Using data from the Office for National Statistics (ONS), the analysis revealed that for the first time in 50 years, the real disposable household income per head fell rather than grew. The TUC said the research shows that the government’s austerity programme has hindered living standards even more than the financial crisis.

TUC general secretary Frances O’Grady said: “Living standards have suffered the worst slump in at least half a century, leaving workers paying a heavy price for the government’s bad choices over the last five years. Austerity has failed, there’s still a major deficit, jobs are less secure and workers’ living standards have fallen.

“We need a government that understands how important pay growth and secure jobs are for a strong economy. If workers don’t have decent wages in their pockets to spend, businesses will struggle to invest and grow.”

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