Shocking new research shows how real wages in Milton Keynes are plummeting in the cost of living crisis

New analysis released by the city’s Labour and Lib Dem Progressive Alliance reveals real wages have fallen by a staggering £1,402.94 per average worker over the past 12 months.

The research, based on the latest Labour Market statistics, shows the value of wages has fallen by 4.1% - the steepest fall since records began 20 years ago.

This means that the average Milton Keynes worker on £34,218 has lost the equivalent of over half a months’ pay due to soaring inflation, crippling energy bills, skyrocketing food prices and fuel.

Councillor Rob Middleton, Labour’s Cabinet member for Resources, said: “MK is taking an absolute hammering from the cost of living crisis, yet the Conservative government seem to have taken the summer off.

"Real wages in MK have fallen by a staggering £1,400. Residents’ hard-earned money is being swept away by the steepest fall since records began, and the worst is yet to come as we head into the winter.”

MK Council is this year providing over £18m in cost of living support for those who are struggling financially, including help with paying council tax, public transport fares, and rent.

The council also supports initiatives such as the food bank and is opening food larders across the city.

Councillor Jane Carr, Lib Dem’s Cabinet member for Tackling Social Inequalities, said: “It isn’t right that residents’ are losing their hard-earned money at rapid rates.

"More and more people are relying on food banks to put dinner on the table... The government needs to act, and they need to act now.”