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Real incomes for those of working age are still below pre-crisis levels, according to research by the Institute of Fiscal Studies (IFS).

The think tank expects median income for those aged between 22 and 59 to be lower in 2014-15 than in 2007-08, after adjusting for the impact of inflation.

Only over-60s will have higher incomes this year than 2007-08, it said.

Living standards have risen more slowly than in previous recessions, because of weak earnings growth, the IFS said.

The IFS said tax increases and benefit cuts, part of the government's actions to reduce the deficit, had also had a negative impact on average incomes.

"The young have done much worse than the old, those on higher incomes somewhat worse than those on lower incomes, and those with children better than those without," said IFS research economist and report author Andrew Hood.