Cost of Living: Cameron Statistically the Worst Prime Minister Ever

(August 12, 2013)

Cameron & Osborne Laughing

David Cameron is officially the worst Prime Minister for living standards, since records began.

Hardly surprising then that Cameron wants to address this ahead of the General Election in 2015. Iain Martin of the Daily Telegraph wrote last month that Lynton Crosby’s advice “was that relentless attention should be paid to subjects that matter to voters, such as reforming welfare and fixing immigration; and underpinning everything there should be a focus on ‘the cost of living’.”

I’ve said it before and I’ll say it again – Lynton Crosby really is Labour’s best friend. I’m all for talking about this Prime Minister’s record on living standards because on his watch, in 36 out of the 37 months he has been in office, the cost of living has risen fast than wages. That means that David Cameron has the worst record of any Prime Minister on living standards, since records began.

In fact, he would have a 100% failure record had it not been for April 2013 when wages rose faster than living standards. Not that many in Walton would have realized of course, because the rise in wages coincided with the 82.2% increase in bankers bonuses which were conveniently held back and handed out after April 1st 2013 when the millionaire tax cut had taken affect. 

So lets recap. The Tories tell families the economy is mending, but David Cameron has a dreadful record on living standards. As well as the overall fall of £1,350 in average annual real wages (Liverpool is above the national average with an annual average depreciation of £1,685), the Labour Market Statistics from July 2013, which were released by the ONS show that prices have risen faster than wages in almost every month of his premiership.

It’s an unbelievably bad statistic politically for the Prime Minister but more importantly, it’s a devastating statistic in reality for my constituents.

No other Prime Minister since records began comes close to overseeing the disaster for family living standards David Cameron has overseen. He has been in Downing Street for more months of falling real wages than any Prime Minister on record. And no Prime Minister has seen so many consecutive months of falling real wages. 

And even according to the Government’s own Office for Budget Responsibility, things are set to stay difficult for family budgets between now and May 2015.

According to new figures from the House of Commons Library, after inflation, wages are forecast to be £1,520 lower in 2015 than in 2010. This means that working people will, on average, have lost a total of £6,660 in real terms while David Cameron has been Prime Minister.

 LIVING STANDARDS - hardworking people worse off

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