Stockton North MP Alex Cunningham has accused the Conservative Government of short-changing working people as new analysis reveals that the value of wages in Stockton North constituency has fallen by £2,276, or 7.4%, since 2010.
Across the country as a whole, real wages are down by an average of 5%, leaving people £1,600 a year worse off than they were in 2010. The fall in real wages in Stockton North is the second highest drop in the Tees Valley after Darlington.
A crucial component of getting wages up and improving living standards is growing the economy which has stalled under the Tories. If the economy had continued to grow at the same rate as it had been with the last Labour government, there would now be £30 billion more to spend on public services without having to raise a single tax.
“After over a decade in government all the Tories have to show for it is a cost-of-living crisis of their own making and an attack on people’s pay packets.
“These figures don’t just underline a lack of growth under the Conservatives, they show the complete failure over 12 years to build an economy that works for everyone. Their policies in government have actually short-changed working people.
“Married with the billions upon billions of taxpayer money that has been wasted on undelivered projects, crony contracts, unsafe PPE and Tory vanity projects, it shows just what irresponsible stewards of the economy the Conservatives are.
“Only Labour has a plan to stabilise our economy, and get it growing with our Green Prosperity Plan and our active partnership with British businesses.”