The latest figures from the ONS, published Tuesday (14 February) reveal real wages fell by 3.1% on the year in the the three months to December – the biggest drop in 14 years. Analysis from Mansfield Labour reveals that local wages have fallen by £747 over the last twelve months.
Publishing the figures, Labour’s Elected Mayor, Andy Abrahams said,
“Wages are tumbling, prices are rising, and families in Mansfield need real support to help them get through the worst cost of living crisis in decades. They need a government that is on their side, but instead all we get is chaos, incompetence and the highest tax burden in 70 years while public services collapse all around us.
“If Labour was in power today we would bring in a proper windfall tax on the outrageous profits of the energy giants to fund real help for families struggling with the cost of living crisis. That means preventing the energy price cap from rising again in April, help with insulation to bring down bills, and an end to the prepayment meter scandal.
“Labour has a plan to get our economy moving again – and with families in Mansfield struggling to make ends meet after 13 years of Conservative failure, change can’t come a minute too soon.”
In real terms (adjusted for inflation), in October to December 2022, total pay fell by 3.1% on the year. A larger fall was last seen in February to April 2009, when it fell by 4.5% on the year.
In Mansfield – that’s the equivalent of £747 worse off
Labour would be bringing in a proper one-off windfall tax on energy giants – something which the government still fail to do – and spending that on a package of support for energy bills including:
- A new measure to pass on savings to households immediately, by stopping the energy price cap going up from April. Right now, government plans expose households to a major new spike in prices in April.
- A new “insulation jump start” – a pot of funding that the government could use right now to supercharge home insulation across the country, saving families hundreds off their bills.
- Ending the scandalous penalty imposed on prepayment meter customers, ensuring customers do not pay more than those paying by direct debit, alongside a 3 month moratorium on the forced installation of pre-payment meters.