The average employee takes home £1,088 a year less than two years ago when the sum is adjusted for inflation, research commissioned by BBC Panorama suggests.
"The sharp drop, in real terms, highlights the effect of stagnant wages and above-target inflation on incomes.The average British worker earned £20,149 at the start of 2011 - a real terms fall of 5% from what they were earning in the middle of the recession."
So, a straight Keynesian policy of allowing inflation to reduce wages in order to restore capitalist profitability is part of the plan, this on top of cuts to public services and the 'social wage'. this is all-out class warfare on the part of the capitalists and their assistants in the state.
Let's be clear, amidst material plenty, capacity for increased productivity and continued (slight) growth, we are all getting poorer. All Labour can propose is to try and grow their way out of the mess, and hope to buy us off with a few trinkets and relief that we aren't being made any more poorer (and the Tories hope the same).
BillM
To The Socialist Party
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