January 23, 2012
Pay freezes and rising bills mean ‘the Squeezed Middle’ will have to wait until 2020 – at best – to return to pre-recession living standards, a study says today.
As many as 5.8million households are struggling to pay essential bills and unable to afford many simple pleasures.
Almost half this group – 45 per cent – do not have enough money to go away on holiday. Forty per cent cannot afford to replace worn out furniture, while 24 per cent cannot afford a night out with friends or family at least once a month.
Eight per cent cannot even find the cash to buy two decent pairs of outdoor shoes.