IFS calculations show that average household incomes will be 18% lower in 2021-22 than could have been reasonably expected before the financial crisis in 2007-08
Real median income before housing costs, 2007-08=100
Trend growth 1961 to 2007-08
High earnings
Central earnings
Low earnings
90
100
110
120
130
2007-08
2010-11
2013-14
2016-17*
2019-20*