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Published on:August 12, 2013Author:The Debt Advisor

According to new figures released by the House of Commons, British workers’ wages have suffered from one of the biggest falls across Europe.

Since 2010 the average hourly wage has fallen by 5.5%. This figure is even higher then the austerity-hit Spain which saw a drop of 3.3% over the same period.

The UK saw the fourth largest decrease in average wages behind Greece, Portugal and the Netherlands.

Germany and France saw an increase in wages over the same period with France at 0.4% and Germany at 2.7%.

Shadow Treasury minister Cathy Jamieson said: “These figures show the full scale of David Cameron’s cost of living crisis. Working people are not only worse off under the Tories, we’re also doing much worse than almost all other EU countries.

“Despite out of touch claims by ministers, life is getting harder for ordinary families as prices continue rising faster than wages.

“People on middle and low incomes have also seen tax rises and cuts to tax credits, while millionaires have been given a huge tax cut.”

If you find that you’re struggling to make your income cover the cost of debt repayments and living costs, there are option available to you.

The Debt Advisor can advise on all kinds of debt solutions such as Debt Management Plans (DMP), Individual Voluntary Arrangements (IVA) and Bankruptcy.

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