Workers are seeing a £400 hit to their monthly wage packets due to the Tories botched handling of the economy, Rachel Reeves has claimed.
The Shadow Chancellor warned that ordinary families are paying the price of 13 years of low-growth and high taxes.
Official figures show pay growth has slumped compared to when Labour was last in power.
According to a Labour analysis, workers would have £100 extra per week in their wage packets - or £400 per month - if the growth in real average earnings had been maintained.
At the same time, Britain has been clobbered by the highest tax rate since the Second World War.
As millions of people get paid, Labour has warned the government’s dismal economic record has led to a “high tax, low growth trap” that is harming family finances.
Keir Starmer and Ms Reeves have pledged that a Labour government would aim to secure the highest sustained growth in the G7.
The pair have vowed to bring good jobs to every part of the country, as well as introduce a genuine Living Wage.
Ms Reeves said: “People are asking themselves, am I better off now than I was 13 years ago when this Tory government came in.
“Or is anything working better now than it did 13 years ago?
“For people across the country, the answer to both of those questions is no. It is clear it’s time for change.
“The government must get real about the impact of soaring costs on households.
“But instead of making the country better off, all we have is a government with a hole where their plan for growth should be.
“Our country has so much to offer and Labour will unlock that potential and promise.
“With our mission to secure the highest growth in the G7, by tackling the cost of living crisis, and by bringing in a genuine Living Wage we will make Britain better off.”
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