Richest fifth in the UK worse off since financial crash, official figures reveal

Office for National Statistics data shows poorest fifth better off since 2007-08, in findings at odds with reports that show rich have got richer

The richest fifth of the population are worse off now in terms of disposable income than they were before the 2007 financial crash, but the poorest fifth have typically become better off, according to official figures which could spark controversy among anti-austerity campaigners.

The data from the Office for National Statistics, published on Tuesday, also reveals a generational split, with the average disposable income of retired households now higher than in 2007-08 - in stark contrast to millions of working households, who are typically around 900 a year worse off.

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