McGovern – Brexit squeeze to blame for fall in real wages

Commenting on ONS figures showing that real wages have fallen by 0.4% in the year from April 2016 to April 2017, Alison McGovern MP, leading supporter of Open Britain, said:

“The Brexit squeeze is already hitting hard-working families in the pocket. The loss of confidence in Britain’s economy since the referendum has sent the pound plunging, making staple goods like clothes, petrol and food more expensive, and sending inflation rocketing ahead of wages. 

“At the same time wages are flatlining, as investment has stalled and uncertainty is damaging British business. That is leaving people worse off.

“The Government’s course for a hard and destructive Brexit is making this worse. They must change course and negotiate to keep Britain in the Single Market and the Customs Union.”

/ends