Silver lining: Richest Brits are worse off since the financial crash

In fact, almost everyone still is

Ordinary workers will probably be pleased to hear that the richest fifth of Brits still haven’t recovered from the recession.

It’s not just working and middle class people who are struggling to get back to where they were 10 years ago – the wealthiest 20% of households still don’t have as much disposable income as before the financial crisis.

According to Office for National Statistics figures, working households are typically £900 a year worse off than in 2007, meanwhile, retired people are better off on average.

John McDonnell, Labour’s shadow chancellor, warned Britain “faces the prospect of a decade over which people will be poorer than at the start”.

He added: “These figures further show why it is the completely wrong time for George Osborne to be taking money out of people’s pockets.”

However, the figures also show the poorest fifth of British households actually have more disposable income than before the recession.

 

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