Living standards, poverty and inequality in the UK: 2014

How have household incomes evolved since the onset of the financial crisis in UK? How has the gap between rich and poor changed? How have living standards changed over time for different parts of the population? How many people are in poverty and which groups are most likely to face poverty? Each year, the government produces statistics about the distribution of income in the UK (‘Households Below Average Incomes’ or HBAI), which help answer these questions and many more. This report is the thirteenth in an annual series published by the Institute for Fiscal Studies (IFS) that analyses these statistics and digs deeper to explore the driving forces behind key trends in living standards, inequality and poverty.