New analysis reveals the Tories’ wholescale failure to grow the economy and to level up Britain, with figures showing that in Rochdale, real wages are down by 7.4%, leaving people £2,271 a year worse off than they were in 2010. Across the country as a whole, real wages are down by an average of 5%.
Tony said, “These figures don’t just underline a lack of growth under the Tories, they show the complete failure over 12 years to build an economy that actually works in the interests of people in Rochdale and beyond.
“Married with the billions upon billions of taxpayer money that has been wasted on undelivered projects, crony contracts, unsafe PPE and Tory vanity projects, it shows just what irresponsible stewards of the economy the Conservatives are.
“Labour will stabilise our economy, and we will get it growing with our Green Prosperity Plan and our active partnership with British businesses.”
Wages in the North West have fallen by £1,600, resulting in a 5% cut, and figures show that in every region in Great Britain real wages are lower now than when the Tories came to power in 2010.
A crucial component of getting wages up and improving living standards is growing the economy, something that has stalled under the Tories.
If the economy had continued to grow at the same rate as it had been with the last Labour government, then there would be £30 billion more to spend on public services without having to raise a single tax.
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Source: ONS: Earnings and hours worked, place of residence by Parliamentary constituency: ASHE Table 10, ONS CPIH