Better-off were hit hardest by recession - IFS

Research by the Institute of Fiscal Studies, the UK's main economic forecaster, said for those on middle and higher incomes, falls in real income happened largely between 2009-10 and 2011-12 because real earnings fell sharply. By contrast, it said many poorer households were initially relatively protected by the benefits system. However, for those on lower incomes, more dependent on income from the state, falls in real income will happen largely as a result of welfare cuts that began after the initial recession and are continuing up to and beyond 2015-16. The IFS said income inequalit...