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Workers face a £6,660 pay hit by the time of the next election, new research revealed yesterday

David Cameron has presided over 36 months of falls in real wages, more than any other Prime Minister, figures from the House of Commons library showed.

The squeeze has already left workers an average of £1,350 worse off in real terms than when he came to power, the calculations released by Labour showed.

That will grow to £1,520 by 2015 as soaring prices continue to outstrip pay rises meaning that the value of people's pay will have fallen by £6,660 over the Parliament.

Shadow Treasury minister Chris Leslie said that Mr Cameron “will go down in history as a disastrous Prime Minister for people’s living standards”.

“He is totally out of touch, his economic policies have failed and the result is working families are massively out of pocket,” the Labour MP said.

“By 2015, official forecasts show working people will have lost an average of £6,660 under five years of the Tories. Yet millionaires have got a huge tax cut from this Government.

“Far from never having it so good, many working people have never had it so bad. Prices have risen faster than wages in 36 out of the 37 months since David Cameron has been in Downing Street. This is the worst performance of any Prime Minister on record.”

Mr Leslie presented the figures at a Westminster press conference after Labour chief Ed Miliband and his team came under fire form their own Mps for not doing more to set the political agenda.

Asked why Labour were not further ahead in the polls given the Government's dire record, he promised that there were “all sorts of things coming up with lots of goodies in store for you.”

“Everybody is anxious and keen to make sure that we win the general election and we are as well,” the shadow minister said.

“That is essentially what we are doing we have been burning the night oil a little bit on the graphs. We have been trying to look ahead this week at the cost of living.”

He added: “People are definitely looking for political parties that can address some of these things.

“But I don’t think it’s the Conservatives or the Liberal Democrats that most people would agree with (on) that."

That was rejected by Lib Dem whip Mark Hunter, who claimed: “The reason the cost of living is high is because Labour crashed the economy.

“For them to criticise the coalition for cleaning up their mess is utterly hypocritical.

“Liberal Democrats have done everything we can to help people with the cost of living while cleaning up Labour’s mess.

“We have given 24 million ordinary workers a £700 tax cut, increased the state pension by £650 and kept mortgage payments and interest rates low.”