Shabana Mahmood MP, Labour’s Shadow Treasury minister, responding to today’s inflation figures, said:
“At long last it looks like average wages will soon be rising faster than CPI inflation. But after four years when wages have fallen sharply in real terms, a huge turnaround is needed to ensure people aren’t worse off than when David Cameron came to office.
"Real wages have fallen by £1,600 a year since 2010 and, on top of this, tax and benefit changes will see the average household £1000 a year worse off by next year.
"It would be deeply complacent and out of touch for Ministers to try and tell people the cost-of-living crisis is over on the basis of one or two statistics. We have a deep-seated cost-of-living crisis which is about insecurity at work, the prospects for the next generation and the broken link between the wealth of the nation and family finances.
"While the Tories deny it even exists, Labour has a clear plan to deal with the cost-of-living crisis and earn our way to higher living standards for all, not just a few at the top.”
Ed Balls’ article on the cost-of-living crisis in today’s Guardian can be found here:
http://www.theguardian.com/commentisfree/2014/apr/14/labour-party-cost-of-living-crisis