Dudley MP Ian Austin today revealed the full scale of the cost of living crisis facing local families.
An analysis of figures from the Office for National Statistics shows that there have been 36 months of falling real wages since 2010 – more than any other period on record.
Working people in the West Midlands are an average of £1,550 a year worse off in real terms since the last election.
Figures from the Office for Budget Responsibility and the House of Commons Library show that after inflation annual wages are forecast to be £1,520 lower in 2015 than in 2010. That means that working people will on average have lost a total of £6,660 in real terms.
Ian Austin MP said:
“Prices have risen faster than wages every month for the last three years.
“Local people tell me all the time that they’re struggling to make ends meet, and official figures show that working people will have lost an average of £6,660 by 2015, yet this government has handed millionaires a huge tax cut.
“I want action to help families right now with a lower 10p starting rate of tax which would benefit 2,050,000 people in our area, along with action on soaring energy bills and the reversal of the millionaire’s tax cut to protect working tax credits instead.”