Rishi Sunak has left the poorest households to bear the brunt of the biggest squeeze on living standards for more than 60 years, while cushioning the blow to those on middle and higher incomes, according to analysis of the measures outlined in the Spring Statement on Wednesday.

The chancellor promised to deliver “security for working families” as the war in Ukraine exacerbated the coming crunch in the cost of living, announcing a ￡6bn cut in employees’ national insurance contributions, a 5p one-year cut in fuel duty and an extra ￡500mn of support for vulnerable households.

But the Office for Budget Responsibility said that even after factoring in these new measures, and the help with energy bills already announced in February, households’ disposable income was set to fall by 2.2 per cent in real terms in 2022-23 as inflation outpaced wages and benefits.