New figures released by the Office for National Statistics (ONS) show that East Midlands’ workers are still £45 a week worse off than they were before the financial crash, which Toby Perkins MP argues is indicative of the way working families in the East Midlands are being failed by the Government.
Toby said, “working people in the East Midlands have seen their wages stagnate whilst bills continue to shoot up and childcare costs swallow more and more of their monthly income. We’re seeing in-work poverty increase and hardworking people forced to use foodbanks and payday lenders.”
The ONS figures show that for the year to April 2017 real wages in the East Midlands were 10.1% below their 2008 level. A report by the TUC has also shown that across England and Wales, the East Midlands has seen the second biggest increase in childcare costs compared to wage rises, with nursery fees rising 7 times more quickly than pay. Only London has seen a bigger increase.
Toby added, “It is highly likely that the Bank of England will put interest rates up next month, which could push even more families’ budgets over the edge. The Chancellor should use his Autumn Statement to increase funding and access to childcare, scrap the public sector pay freeze and invest in infrastructure, enterprise, and skills to help deliver more jobs and investment in the East Midlands.