More than 16m workers – more than half of the UK’s workforce – will not get a pay increase of any kind this year, a survey has claimed.
Research by YouGov has found that 16m will not be expecting an increase in the next 12 months whilst another 9m expect to receive an increase that is lower than the rate of inflation.
It is claimed that civil servants, including nurses, teachers and care workers will feel the pinch most of all, as all of the key political parties warn of cutbacks in public spending should they win the forthcoming election.
The survey, commissioned by comparison website uSwitch, also suggested that more than five million consumers will run into debt by spending more than they earn, with nearly half of those planning on using overdrafts to make up the difference.
"Consumers face a double threat - the government is toying with measures such as raising taxes to reduce the public deficit, which will have a direct impact on personal finances," said Ann Robinson at uSwitch.
"When coupled with lower than anticipated salary increases, it can only mean that we are in for a bumpy ride, and the situation could get worse before it gets better."
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