Figures released today by the ONS show that real wages have fallen since last year. Due to high levels of inflation, average weekly earnings in real terms are down by 0.4% including bonuses, and 0.5% excluding bonuses, when compared to this time last year.
Commenting, Stephen Doughty MP, leading supporter of Open Britain, said:
“Brexit is already damaging the economy, and the squeeze on real wages is hitting working people in their pockets.
“As today’s figures show, the rise in inflation caused by Brexit means real wages are down 0.4% compared to this time last year.
“With inflation on food and drink now its highest level since 2013, it is clear that the uncertainty being caused by the Government’s hard Brexit plan is reducing people’s purchasing power and squeezing living standards.
"Given that no-one voted in the referendum to make themselves poorer, everyone has the right to keep an open mind about our future relationship with the EU.”
Notes to Editors
The full release by the ONS can be found here.