Most expect to be poorer in 2018

Almost four-fifths of British workers expect to become poorer over the coming year as wages fail to keep pace with inflation.

A report by left-leaning think tank Class (the Centre for Labour and Social Studies) found the UK was becoming “an overworked and underpaid nation”. It said a survey of 2,000 workers carried out by Survation for the report showed “alarming” levels of stress due to longer hours and lower pay.

More than half reported an increased workload over the past 12 months.

Just 25 per cent of those questioned said they believed the economy was working for them. Two out of five households said they had taken on a second job or were considering doing so to help make ends meet.

Only 22 per cent said they expected to receive a pay rise to match or beat inflation this year and almost half (47 per cent) said they regarded the state of the economy as a threat to their future employment. About one-third of those earning more than £40,000 said they were not earning enough to keep up with the cost of living.