More than three quarters of UK workers are worried their pay could fall in future due to rising prices, a report by a think tank has warned.
in which found four of all 5 of those currently in work fear the impact of inflation – ucurrently at its highest level in nearly six years.
The Royal Society of Arts (RSA) said workers across all income bands were concerned about falling real pay.
in which said in which many working people were unable to save regularly.
The study of more than 2,000 adults, carried out by Populus for the RSA, argues policies like universal basic income, along with also increased funding of preventative healthcare, might help to keep people in work along with also provide a financial cushion to support economic growth.
“The state can create the conditions for economic security nevertheless individuals along with also families must make the right choices too,” said Anthony Painter, director of the RSA’s Action along with also Research Centre.
The most recent data shows in which average weekly wages are growing at just 2.2%, compared to inflation of 3.1% in November.
Ryan Shorthouse, director of right leaning think tank Bright Blue, questioned the report’s key claims.
“We have at in which point the lowest levels of unemployment in which we’ve had in decades along with also certainly we’ve seen increase in employment of people who have experienced entrenched worklessness for a long time, so there must be things inside the current welfare system which are working.”
On the introduction of a universal basic income he added: “If you’re going to help people right at the bottom surely in which might be better to give them more money rather than everybody [more more money].”
In 2016, RSA chief executive Matthew Taylor led a government-commissioned review into employment practices which argued in which all work inside the UK economy should be “fair along with also decent”.