Brits hoping for a new-year salary bump to offset soaring food and energy costs may be disappointed.
The average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account, according to PwC. Real wages, which factor in inflation, are expected to fall by as much as 3% in 2022 and another 2% in 2023, PwC has predicted in a report on the UK economy shared with CNN.
The report confirms that wages have stagnated in Britain even as inflation hits double digits, sparking the worst cost-of-living crisis in decades. That’s led to widespread strikes across the UK economy, encompassing railways, schools, nurses, hospitals and the postal service.
On Friday, passport officers began eight days of strikes that are expected to hit some of the United Kingdom’s busiest airports over Christmas and New Year, including Heathrow…