A NEW report has highlighted
how middle and low income
workers in the UK have seen
barely an improvement in their
wages over the past 30 years.
But the same data shows
that pay has soared for
traditionally high-earning
occupations, such as solicitors
and doctors, over the same
period.
The TUC paper, The Livelihood
Crisis by Open University
researcher Stewart Lansley, details
the sharp divide between
the likes of medical practitioners
– seeing a 153% hike in
their pay packets – and bakers,
who have had to stomach a
one per cent cut in theirs.
In his conclusion, Mr Lansley
writes: “It is surely now time to
openly acknowledge the failings
of the last 30 years and fashion
more pragmatic and nuanced
policies that recognise that
markets can indeed be powerful
drivers of growth and
wealth, but that without significant
corrective measures, they
consistently fail to provide for
all in a fair and humane way.”
According to TUC general
secretary Brendan Barber, right,
vast sections of the population
have not derived any benefit
from economic growth in the
UK for decades.
He added: "The financial
crash has exposed decades of
limp wage growth offset by
soaring household debt.
"Unless we radically transform
our economy – from
recasting the role of the state
to prioritising a fairer distribution
of new wealth and jobs –
we will simply be storing up
more problems for the future."