Wages in UK next year to be at their lowest level since 2006

New Delhi: The average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account.

According to a report in CNN, Real wages, which factor in inflation, are expected to fall by as much as 3% in 2022 and another 2% in 2023, PwC has predicted in a report on the UK economy.

The report further confirms that wages have stagnated in Britain even as inflation hits double digits, sparking the worst cost-of-living crisis in decades.

UK has been hit by a wave of strikes

After a 48-hour strike by rail workers which lasted till 14 December, nurses across the UK have walked out demanding higher pay amid soaring inflation.

More than tens of thousands of members of the Royal College of Nursing (RCN) – the UK’s biggest nursing union – in England, Wales and Northern Ireland kicked off a strike on 15 December.

Many protests have been planned throughout the month of December by union workers across the UK. This industrial action is expected to be the largest in the country since the late 1980s, says Quartz.

What is the UK govt saying

The UK recorded the highest number of working days lost due to labour strikes in October in more than a decade, Reuters reported citing Office for National Statistics data.

British prime minister Rishi Sunak has said his government is working to lessen the impacts of these waves of strikes. He has told MPs that if “union leaders continue to be unreasonable, then it is my duty to take action to protect the lives and livelihoods of the British public”, reported Quartz.

As per Financial Times, he told Cabinet members earlier, “While the government will do all we can to minimise disruption, the only way we can stop it completely is by unions going back around the table and calling off these strikes,” he said.

The opposition parties have accused the Conservative leader of not deliberating with unions sincerely, or making many efforts to prevent strikes, CNN reported.

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