UK joins Greece at bottom of wage growth league

TUC found that between 2007 and 2015 in the UK, real wages fell by 10.4%, the joint lowest in OECD countries

Britain has suffered a bigger fall in real wages since the financial crisis than any other advanced country apart from Greece, research shows.

A report by the TUC, published on Wednesday, shows that real earnings have declined more than 10% since the credit crunch began in 2007, leaving the UK equal bottom in a league table of wages growth.

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Bank of England hawk signals interest rate cut to tackle slowdown

Monetary policy committee member Martin Weale issues warning about British economy and says he would probably back stimulus measures

The prospect of a UK interest rate cut next week was virtually confirmed on Tuesday after a key member of the Bank of England’s policymaking committee warned the economy was in a worse state than he expected just a week ago.

In a sudden U-turn from his previous stance, Dr Martin Weale, one of the more hawkish members of the Bank’s monetary policy committee, suggested in an interview with the Financial Times (£) that he was likely to vote for further stimulus measures. On 18 July, Weale said in a speech there was not enough evidence that the economy was suffering from the UK’s vote to leave the European Union.

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