Workers of the UK, rejoice! For the first time in six years, wages are going up faster than the rate of inflation. With a bit more cash in our pockets, we can now spend more doing the things we love (beer and bingo, anyone?).
The news will be welcomed by the Government, and help then regain ground after Maria Miller's resignation put an end to their post-budget poll spike. But it's bad news for Labour, who are still insisting that there's a cost of living crisis.
But Ed Miliband might still have one last trick up his sleeve - a trick which seems to have been inspired by none other than Ronald Reagan. During a debate with Jimmy Carter in 1980, the soon-to-be-President Reagan asked the audience: "Are you better off than you were four years ago?"
Statistically speaking, Americans were actually better off than they were in 1976, but it didn't matter. Reagan's jibe worked like magic. So as the numbers turn against him, it looks like Miliband is going to "go Reagan" on the Government.
Is he onto something? Do you feel better off or worse? Let us know how good you're feeling about your latest bank statements below...Reuse content