Anyone, regardless of "social position" who is running things to the edge and has floating rate borrowing and no floating rate savings is squeezed. The bigger the principle the bigger the issue in general.
On a macro level, if you are a government it can make your fixed debt easier to sell but of course more expensive to service (if it's floating rate that is not always more expensive i.e. LIBOR+0.05BPS where LIBOR is currently 1% it may of course drop later).
In the real world though, I do feel for those who have only ever known low interest rates, not for any other reason than unless you dilligently do your sums (which let's face it, is normally second to can I afford it now?) you are going to get cash shock as your borrowings get more expensive to service, and at this time, as the Tories (IIRC) said a while back is a "double whammy".
Banks etc. project interest rate risk with something called a BP01, which shows the impact of single basis point rises (that's 0.01%) in interest rate rises. They are able to hedge that (or alternatively) gamble on it with Interest Rate Swaps. As a punter though you can't do that.