Despite claims of fierce austerity, overall spending – adjusted for inflation – has only fallen by 2.3 per cent over the parliament.
The triple lock, which increases pensions payments by the highest of inflation, wage rises or 2.5 per cent, will cost an extra £4.8bn next year.
Meanwhile spending on the NHS has increased by 6.2 per cent over the period. And the international development budget rocketed by 35.3 per cent over the parliament.
The IFS data also shows the richest 10 per cent were hit hardest by changes in taxes and benefits, losing 6.4 per cent of their income.
By contrast the poorest 10 per cent lost 3.8 per cent of their income.