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Loan charges: Low earners have experienced the lowest income growth, TUC says

Britain's lowest earners are the ones who have suffered from the weakest earning growth in the last 26 years, according to the Trades Union Congress (TUC).

The organisation's general secretary, Brendan Barber, explained that despite the introduction of minimum wage representing a boon to the lowest earners, inequality across the country has ensured that others raced ahead.

"The top one per cent benefitted most from the boom, played the biggest role in causing the crash and then protected their earnings during the recession," he said.

Lower income earners, meanwhile, have had to bear the brunt of the economic crisis, having to fork out on loan charges. Workers on average incomes have lost more than £600 and below that the impact is even sharper, he added.

He suggests that the 'Living Wage' be introduced, which is designed to meet a minimum standard of living, as well as a bold reform of executive pay to stop incomes at the top soaring off.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801484842-ADNFCR



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