Incomes rise but working-age households remain worse off

Average income of people aged between 22 and 30 estimated to be 7.6% lower than before the financial crisis, according to Institute for Fiscal Studies

Average household incomes in Britain have finally returned to their pre-financial crisis levels, but recovery has been very slow and working-age households are still worse off, according to a leading thinktank.

The Institute for Fiscal Studies (IFS) said average incomes in 2014-15 are about the same as they were in 2007-08, before the banking crisis triggered a deep recession.