More Britons could be hoping to secure compensation from a payment protection insurance (PPI) mis-selling case in order to give their bank accounts a much needed boost. According to a new study conducted by the Trades Union Congress (TUC), a stagnation in wages has led to workers taking home £60 billion less than they did 30 years ago (allowing for inflation). The report showed that, perhaps unsurprisingly, earnings took the biggest hit during the recession, when pay increases fell from 4.2 per cent in 2007 to just 1.7 per cent in 2009. To make matters worse for the lowest-paid members of society, the gap between executive earnings and blue collar staff has widened. Author of the report Stewart Lansley commented: "The falling real wage share over the last 30 years helped cause the recent crash by sucking demand out of the economy and making us more dependent on spiralling debt." A recent report published by Skipton Building Society showed that Britons who spent frivolously on their credit cards last year are going to pay the price in the next few months. Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
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