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NEC Statement on Falling Wages

The Liberal Party notes with concern recent media reports that living standards in this country are likely to stagnate for the foreseeable future. These reports further suggest that some of the poorest households will see their income falling back to levels last seen in 2008.

In the immediate aftermath of the recent Autumn Statement the Institute for Fiscal Studies (IFS) has cautioned that real wages may be depressed for 10 years or more, with some groups seeing an effective cut to their income.

Continuous cuts in social benefits and tax credits, low wage growth, reduced hours of work, and increased inflation will further erode the standard of living for a whole swath of the most vulnerable households in this country.

The Liberal Party’s constitution clearly states that the party exists in part to ensure no member of our society is enslaved by poverty, ignorance or conformity. We remain robust in demanding that this government take clear steps to lift the low paid out of the spiral of fuel poverty and debt.

We believe in a fair society, work ethic and a simplified tax and benefits system which lifts’ people out of poverty rather than force them into the queues of food banks.