An FT columnist reflects on his own middle-class credentials while re-waxing his labradoodle's Barbour raincoat, prompting a deeper look at the cost of middle-class life in the UK.
Using data from the Asda Income Tracker and CEBR, the analysis shows the middle quintile's spending power has fallen by around a quarter over the past decade, leaving households with only about £90 of spare cash a week. The top fifth of Britons have 10 times that sum.
Three hypothetical families illustrate the budgets required: the Lowes in Manchester manage on £56,000 a year, the Middletons in south London need £99,000, and the Uppinghams in north London require £216,000. These budgets cover essentials, larger homes, pricier cars, private pensions, and independent education.
The piece questions whether lifestyle pieces lamenting the cost of prep-school uniforms and Alphonso mangoes capture the full picture, suggesting the real cost of middle-class life runs far deeper.
Source: Financial Times Companies · Summarized by HeadlinesBriefing