A worldwide survey of 22,000 employers by Hay Group consultants indicates that British employers expect wage rises in Britain to remain the lowest in Europe with an expected 0.5 per cent reduction on wage rise forecasts in 2013.
In other words British workers’ wages are either remaining static or being cut further, while profits, dividends and boardroom bonuses rocket.
British employers expect wage increases will remain the lowest in Europe despite the Eurozone’s ongoing financial crisis; and that they will remain lower than in the USA and similar industrial competitor nations.
Whether British employers are correct in these predictions depends on how effectively British workers use the unions to fight for wage rises. ■