Britain’s financial services workers are enjoying wage hikes at double the rate for the rest of the population, widening the gap between the rich and the poor at a time when the country is suffering the biggest squeeze on living standards on record.
“This appears to be the first time since the financial crisis that financial sectors have taken off like this, and it remains to be seen whether this is a one-off spike or a new trend,” Xiaowei Xu, senior researcher at the IFS, said in a statement released on Wednesday. The IFS figures fuel concerns about the poorest segments of society being left behind in a wage boom enjoyed by some of the richest.
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