Poor pay causes downward spiral

This week Carphone Warehouse became the latest high street name to announce it is closing stores.

Many big brands have been hit this year, including Mothercare, Maplin, Toys R Us and Carpetright.

One reason why people are spending less in the shops is because they have less money in their pockets.

UK workers are suffering the worst pay squeeze for two centuries. It’s taking wages longer to recover from the last economic crash than from the great depression and Second World War.

Britain’s living standards’ crisis has come at a heavy price. Hard-working families are struggling to get by. Millions of kids are growing up in poverty despite having parents in work. And mums and dads are skipping meals and turning to dodgy lenders to make ends meet.

That’s why we need great jobs in every region and nation of the UK, and higher wages for all workers. It shouldn’t be just the bosses who thrive.