News analysis

Nadhim Zahawi is downplaying the severity of a record fall in wages

Real wages have fallen at their fastest pace on record and more pain is in store as the country heads into a long recession and average energy bills surpass £4,000 a year.

Yet the chancellor, Nadhim Zahawi, responded to this latest shocking economic news by seeking to downplay it.

Incomes are not just being squeezed they are being subjected to an all-out assault. Public sector workers in particular have been hammered by a huge pay cut in real terms.

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