The demise of the middle classes is toxifying British politics | Larry Elliott

As the rewards of the digital age are hoarded at the top, automation and flexible working are hollowing out the rest of the economy

Back when he was leader of the Labour party, Ed Miliband came up with a phrase to describe those who, while not exactly poor, were finding life tougher than it used to be. The "squeezed middle" summed up Britain in the years after the financial crisis: the stagnant wages, the falling living standards, the spending cuts that were starting to bite.

Phrases - even good ones - don't win elections, and Labour went down to defeat in the 2015 election. But Miliband's slogan has matured with age and it is now clear that he was ahead of his time. The idea of a squeezed middle certainly resonates in the suburban households that have been feeling the pinch during the long and incomplete recovery from the crash of 2008.

Related: Poverty is holding Britain's young people back. They deserve so much better | Lola Okolosie