March 4th, 2015
Episode 181 of 1409 episodes
Average household incomes are back to the levels they were at before the financial downturn struck, the Institute for Fiscal Studies (IFS) has found. The recovery in living standards has been much slower than after previous recessions and changes to spending patterns suggest that people think their income prospects have taken a permanent hit, the IFS warned. Younger people, people on higher incomes, and people without children tend to have come off worse than those in other groups in recent years, according to the findings. George Osborne is Chancellor of the Exchequer.