Doctors, firefighters and priests among the 'hardest hit by real-terms pay cuts' - but better news for vets and beauticians
Figures published show the biggest losers of pay in the UK’s inflation-stricken economy, with doctors and firefighters taking the biggest hits.
According to research by tax specialists RIFT Tax Refunds, doctors had the largest pay cut in real terms. Across 2021 and 2022 their average gross salary fell from £49,497 to £44,768.
However, after adjusting for inflation, the research shows that their 2021 salary was equivalent to £56,107, falling to £46,514 in 2022, a real term pay cut of almost £10,000.
Firefighters took the next biggest cut, with an annual drop of £2,628 after adjusting for inflation. The cut for teachers was £2,323, nurses £2,263 and social workers £2,092.
Police officers, plumbers, electricians, taxi drivers, refuse collectors, accountants, postal workers, cleaners and the clergy were also adversely affected.
However, vets had the largest real term increase with their inflation adjusted gross income climbing by £1,756 annually.
The research also shows that beauticians’ salaries are up by £1,645, bar staff £1,459 and florists £1,079.
Others to do better are chefs, fitness instructors, dry cleaners, hairdressers, waiting staff and bus drivers.
RIFT analysed gross salary data across 24 of the UK’s most common professions, looking at the annual change in pay between 2021 and 2022 once adjusted for inflation.
CEO of RIFT Bradley Post said: “Despite a steady level of income growth in recent years, many professions are now far worse off than they were just a year ago, as the instability of the wider economic landscape and high rates of inflation have not only eradicated any increase in pay, but left them severely in the red.
“With the nation also tackling the worst cost of living crisis in recent history, it’s hardly surprising that we’ve seen such widespread strike action across many sectors, as households struggle to make ends meet in the current economic climate.
“Those within the public sector have been some of the worst hit and this is particularly worrying given the vital role they play in society and when you consider the heroics they displayed during the pandemic.”
But Prime Minister Rishi Sunak has condemned strike action and said the Government will halve inflation, now at 10.1%, in 2023. Economists predict this will happen as energy costs fall.