New analysis has revealed that across every region in Great Britain, real wages are now lower than when the Tories came to power in 2010.
While real wages are down by an average of 5% across the country, wages in Birmingham Edgbaston constituency which covers Bartley Green, Quinton, Harborne and Edgbaston, have fallen by 9.2% resulting in a £3,308 real terms cut.
Preet Kaur Gill, MP for Birmingham Edgbaston said:
“A crucial component of getting wages up and improving living standards is growing the economy. Something that has not only stalled under the Tories but when coupled with the Conservatives broken promises of levelling up Britain has had devastating consequences here in Birmingham.
“Even before the cost of living crisis hit home, 28% of households in the West Midlands were facing financial difficulties. Now, people are having to face higher energy bills, mortgage rates and food bills all on substantially lower wages. These figures are just the tip of the iceberg when it comes to showing the Tories’ wholescale failure in Government.”
The figures also follow the Government’s decision to scrap investment zones, further delay the announcement on the next round of levelling up bids and, with a return to Tory austerity, the promised devolution deals and innovation zones may also be in question. All of which would have a significant impact for Birmingham and its regional economy.
Labour’s Shadow Chancellor Rachel Reeves 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 working people.
“Marred 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.”
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Notes to Editor
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