Interesting Fact - Money

Analysis of figures released by the Office for National Statistics shows that workers in the UK are £1,500 a year worse off than they were in 2010.

(Statistics show that the average annual increase for the whole of the last decade was just 1.3 per cent, the lowest figure since records began in 1948, creating a toxic combination of poor pay rises or pay freezes and rising household bills.

The main burden is on the young, as 16 and 17-year-olds have seen their pay slashed and are more likely to be paid less than the minimum wage.

John Willcock, head of financial services at the Post Office, said: 'It is a concern that we are becoming “Pay Day Britain”, just counting down to the next pay cheque.')