(Statistics show that the average annual increase for the whole of the last decade was just 1.3 per cent, the lowest figure since records began in 1948, creating a toxic combination of poor pay rises or pay freezes and rising household bills.
The main burden is on the young, as 16 and 17-year-olds have seen their pay slashed and are more likely to be paid less than the minimum wage.
John Willcock, head of financial services at the Post Office, said: 'It is a concern that we are becoming “Pay Day Britain”, just counting down to the next pay cheque.')