Labour: Falling wages show policies have 'badly failed'

David Cameron and George Osborne's economic policies have "badly failed over the last three years and working people are paying a heavy price," the shadow treasury minister has said.

The criticism from Cathy Jamieson comes in light of new figures released by the House of Commons showing that British workers' wages have suffered one of the sharpest falls in the European Union.

Figures released by the House of Commons show UK workers' wages have suffered a sharp fall in value Credit: REUTERS/Suzanne Plunkett

The Kilmarnock & Loudoun MP said: "Despite out of touch claims by ministers, life is getting harder for ordinary families as prices continue rising faster than wages.

"Ministers keep talking about the global race, but when it comes to living standards it's clear we're losing."

Advertisement

UK wages in sharp decline

British workers' wages have suffered one of the sharpest falls in the European Union, House of Commons library figures have shown. The average hourly wage has fallen by 5.5% - more than the eurozone crisis-rocked Spain.