The Progressive Alliance has released a new analysis based on the latest Labour Market Statistics.
The new analysis has revealed that real wages have fallen a staggering £1,402.94 per average worker over the last 12 months.
The Labour/Lib Dem run Progressive Alliance say that the average Milton Keynes worker on £34,218 has lost the equivalent of over half a months’ pay.
Local Councillor Rob Middleton has said that the city is taking an 'absolute hammering' from the crisis and that the worst is still yet to come.
“Milton Keynes is taking an absolute hammering from the cost of living crisis, yet the Conservative Government seem to have taken the summer off," Councillor Rob Middleton, Labour Progressive Alliance Cabinet Member for Resources, said.
"Real wages in MK have fallen by a staggering £1,400. Residents’ hard-earned money is being swept away by the steepest fall since records began, and the worst is yet to come as we head into the winter.”
Councillor Jane Carr, Lib Dem Progressive Alliance Cabinet Member for Tackling Social Inequalities, added: “It isn’t right that residents’ are losing their hard-earned money at rapid rates. More and more people are relying on food banks to put dinner on the table, which sadly isn’t a surprise when the average worker has lost over half a months’ pay this year alone.
"The Government needs to act, and they need to act now.”
