The real threat to living standards for those on low to middle incomes

Ed Miliband’s attempt on Friday’s Today programme to define the ‘squeezed middle’ has made some people question the point of the term. Shadow chief secretary Liam Byrne tried again on Sunday to pin down the concept. But the big question remains: is the ‘squeezed middle’ just a political slogan – as meaningless as ‘the deserving majority’ – or does it refer to something real, and a big, new challenge for political leaders?