John Williams, Cardiff West Socialist Party
Tory prime minister Rishi Sunak has told people to “hold their nerve” during the cost-of-living crisis. I think we best remind him which party has been in government for 13 years!
How long do workers need to hold their nerve for? We’ve been told to tighten our belts virtually since 2010, and even before that with the 2008 economic crisis. And in that time, the average annual earnings of each worker in Britain has gone down by about £11,000 in real terms.
The Tories want to show that inflation is coming down. But it’s staying stubbornly high. And even if the rate of inflation drops by a little, prices are still going up!
My rent
Rent is going up. My rent is going up by £195 a month in August. I’m not going to get any help with that. Even if I do get a pay ‘rise’, it will get eaten up instantly.
But some have done quite well. According to the Office for National Statistics, the best-paid have had the highest wage hikes. But that hasn’t stopped the governor of the Bank of England wrongly blaming the crisis on the wage increase demands of ordinary workers.
Analysis from the Trades Union Congress (TUC) found that the top 1% of workers have been paid 7.9% more this year than last year, While people on low and middle incomes saw the rate of their wage ‘rises’ fall.
The Banks of England’s latest interest rate rise is making people worse off from rent and mortgage increases. People haven’t got enough to save nowadays anyway. So the argument that a rise in interest rates will stop people from spending to curb inflation falls flat.
Tories
The Tories claim they’re trying to help. But everyone can see everything they do is making things worse.
The working class needs more money in their back pockets. But Labour also says it’s opposed to inflation-proof pay rises for workers.
If Labour is concerned about how this will effect inflation, why don’t they commit to tax the rich and nationalise industry to invest in production? We all know the answer to that. They don’t want to upset their millionaire mates.
That’s why the unions should stop finding political candidates who sing to the Tories tune, and back others who will fight tooth and nail for the pay rise we all desperately need.
