Thursday, January 18, 2007

Inflation leads to fall in real wages for the first time since Labour came to power

Inflation leads to fall in real wages for first time since 1997

Official figures are now showing that real wages have declined for the first time since Labour came to power. The shadow chancellor George Osborne said, "Gordon Brown tries to pretend that everything is rosy in the economy, but rising prices mean that families’ real living standards are falling." Average wage rises grew by 3.6% during the period measured while RPI was at 3.9. Recent RPI sprinted ahead to 4.4% which will no doubt sqeeze the the consumer further.

Posted by denzil @ 09:34 AM (510 views)
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7 thoughts on “Inflation leads to fall in real wages for the first time since Labour came to power

  • The wheels are falling off the miracle economy bus! The debt mountain and the ever increasing money supply are coming to haunt Gordan.

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  • Chortle! In the wealth creating sectors of the economy real wages have been falling for a few years now. It’s just the (lies damned lies and ) stats can no longer hide the truth.

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  • “However, there was good news for the Government as the ONS also revealed unemployment falling at its fastest rate for 22 months.”

    Good news? I think not! Fewer unemployed means higher wage settlements, so more inflationary pressure. There is only one way out now – general economic downturn, most probably led by HPC….

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  • It’s interesting that real wages are declining. My guess is those are the wages of “blue collar” workers. The people who I know who were rich pre-labour have unquestionable got richer under this government in part due to HPI. In the meantime the future of the country, key workers and the like have just about zero chance to get to the first rung. My interest in HPC came about due to what I viewed as the long-term negative social effects of Labour Party policy, i.e the breakdown of families due to debt, the behaviour and respect the younger generation hold for the older generation i.e the have and have nots, the effect of excessively high immigration, the breakdown of the manufacturing sector. This current goverment are little more than a disaster and even though I’m no fan of Blair, in comparision to Brown’s economic screwing of the country Blair does not look such a bad bloke.

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  • tyrellcorporation says:

    Let’s get a grip here Denzil. Blair is a stateless A-political Euro-centric social climber (much like his scout, Mandy), this is why he has basically shat on the UK from a great height. He’s doesn’t give a damn about the British people and has for the last decade been thinking only of his next career move which is to be President of Europe. At no point during his 10 years in office did he appear remoteley interested in the UK. He’s a smooth operator though and for many he seems like a nice bloke – psychopath more like!

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  • tyrellcorporation says:

    I thought I’d add a blog to get the little flames to appear! 😉

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  • Denzil and Tyrell are both right in their own way, Blair was only ever in it to satisfy his overinflated personal Ego and his ugly sister Gordon tagged along on his shirt tails and took the easy option of the treasury. I dread to think of the greater mess this country will end up in when he gets his hands on the PM’s job, one thing is for certain whoever becomes the next chancellor will be Gordon’s puppet.

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