Kyle – Wages fall shows “economic cost of Brexit worsening”

This morning’s (Wednesday’s) labour market statistics from ONS show that average total earnings grew by 2.5% in the year to December, unchanged from the previous three months.

Consumer price inflation over the same period was 2.7%, so real wages are continuing to fall.

Commenting, Peter Kyle MP, a leading supporter of the Open Britain campaign, said:

The Brexit squeeze continues to tighten, with real pay continuing to fall back after the Brexit inflation spike, meaning working people’s wages are being stretched further and further.

If the hard Brexit fanatics get their way, we will be driving our economy off a cliff in March 2019 and the situation will get much worse than it is already.

People are entitled to look at the worsening economic cost of Brexit and ask whether it’s the right path for the country. If not, we all have the right to change our minds.” 

/ends

 

Notes to editors

ONS’s statistics can be accessed here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/latest