middle classes living standards

Middle classes living standard squeezed

Britain's middle classes face the biggest financial squeeze for decades that will drastically affect their living standards, according to new research.
The findings show the typical family will face a decline in their income of around £300 - or 2.4 per cent - next year through higher taxes, mortgages and rises in the costs of food and other goods.
The richest in society will also see their spending power cut by up to nine per cent - which amounts to almost £5,000 a year.

They may be hit even further by this week's Pre Budget Report, which is expected to tighten the screw on higher earners.
But the less well-off are expected to actually see their spending power rise next year. A single mother who receives around £10,000 a year is due to have an extra £130 annually.
Accountants PricewaterhouseCoopers calculated the amounts based on the Government's current tax rules and future plans

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