Rebecca Long-Bailey, Labour’s Shadow Chief Secretary to the Treasury, responding to the IFS report out today showing that young people’s incomes are still below pre-crisis levels, said:

“These figures from the independent Institute for Fiscal Studies highlight the failure of the Tory Government over the last six years.

“It’s shameful that under the Tories two-thirds of children living in poverty have at least one parent in work. If Theresa May is serious about supporting families struggling to make ends meet then we need more than just warm words on the steps of Downing Street – we need action to make work pay and an end to the Tories’ cuts to in-work support that will leave millions of working families worse off.

“The fact that those aged 31-59 have had no increase in their incomes at all since the financial crisis will come as no surprise to the millions of people in this age group who have been struggling to get by due to Tory economic policies.

“The report also shows how young people’s incomes are still seven per cent below their pre-crisis levels.  We need strong action from the Tory Government to make sure the younger generation do not disproportionately pay the price of the Tories’ failed austerity policies.”