Employees £3,500 a year worse off under Tories, says Labour

Party says slow wage growth means chancellor should not go ahead with 'damaging cuts' to universal credit

Sluggish wage growth means the average employee is 3,500 a year worse off since the Conservatives came to power, according to Labour analysis of Treasury figures before chancellor Philip Hammond's first autumn statement next week.

Compared with the average wage growth under Labour, full-time employees are 67 a week or 292 a month worse off, the party's report found. The analysis compared the average annual percentage change in wages in the six years of the Conservative and coalition governments, which is 1.3%.