New research reveals the best-off will see their spending power cut by as much as 9 per cent, almost £5,000 a year, the most vicious assault on their living standards in three decades.
Next year, Britain's middle classes and the rich will face the biggest squeeze on their living standards in decades, shows research produced by accountants PricewaterhouseCoopers for The Independent.
In the build-up to what promises to be an exceptionally tough pre-Budget report this Wednesday, PwC says the typical British family ("Middle England") already faces a decline of 2.4 per cent, or £300 a year, in its discretionary spending power, after tax, mortgages, food and other essentials.
