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Economics Company profits have climbed steadily for a decade while wages stagnate, warns TUC

COMPANY profits have climbed steadily over the last 10 years at the expense of workers’ wages, official stats show.

A TUC analysis of Office for National Statistics figures reveals that UK-registered corporate profitability stood at 12.6 per cent in 2017, up from 11.4 per cent in 2007.

This increase of 1.2 per cent comes as real wages in the same period fell by 4.4 per cent.

The TUC said that profitability is even higher in the services sector, rising from 14 per cent to 19.1 per cent.

TUC general secretary Frances O’Grady said: “Working people aren’t getting their fair share. Profitability is up, but real wages are still in freefall.

“It’s especially galling to see so many people on poverty pay in the service sector, where profits have shot up.

“Not only does Britain deserve a pay rise but this evidence shows that business can afford it too.”


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