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Workers in Britain and Greece suffer biggest fall in wages, says TUC report

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Issue 2515

Workers in Britain have suffered the biggest fall in wages of the world’s richest countries since the economic crisis began in 2007.

Employment rates in Britain also rose less than they did in some other countries, according to figures from the TUC.

The statistics also show that women in Britain now earn 19.2 percent less than men on average.

Real wages, which take into account inflation, fell by 10.4 percent in Britain between 2007 and 2015.

Greece is the only other country that has seen a drop of the same scale.

Just three out of 29 countries in the Organisation for Economic Cooperation and Development (OECD) saw real wages fall—Britain, Greece and Portugal.

Yet workers in Poland saw real wages rise by 23 percent, in Germany by 14 percent and in France by 11 percent over the same period.

Britain’s employment rate grew by 0.6 percent—while Germany’s grew by 5.1 percent and Poland’s by 4.5 percent.

TUC general secretary Frances O’Grady said Britain had seen a “lost decade of income”.

No more grants for the poorest

The poorest young people will no longer be able to apply for student maintenance grants if they want to go to university.

The grants were replaced by loans from Monday of this week. Students already have to borrow to pay tuition fees.

Housing crisis behind home ownership drop

Home ownership in England is at its lowest level in 30 years due to low wages and rising house prices. 

The Resolution Foundation thinktank found that 64 percent of households own their home—compared to 71 percent in April 2003.

The government should build council housing to deal with the housing crisis.

Payouts row at Southern Trust

Southern Health NHS Trust paid millions of pounds to firms owned by associates of its chief executive Katrina Percy.

One firm was paid £500,000 without bidding for any contracts. Percy has so far refused to resign.

Cost of poverty is £78 billion

The effects of poverty “cost” £78 billion in Britain, not including benefits, according to the Joseph Rowntree Foundation.

The main cost was £29 billion on treating health conditions associated with poverty.

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