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The phrase "a further squeeze on" is correct and usable in written English.
It can be used to describe an additional pressure or constraint being applied to a situation, often in economic or social contexts.
Example: "The new regulations will create a further squeeze on small businesses already struggling to survive."
Alternatives: "an additional pressure on" or "more strain on".
Exact(31)
Local authorities are braced for a further squeeze on spending in the next financial year.
It may be that the Spending Review will enable it to preserve reasonable services despite a further squeeze on costs.
The most recent sanctions put a further squeeze on the country's oil imports and placed more restrictions on its citizens working abroad.
A further squeeze on government funding; if, for example, eligibility for Pell grants is narrowed, could have a serious impact on the university's mission.
The company had to raise more than five hundred million dollars to finance the building, which put a further squeeze on its resources.
The likely impact is a further squeeze on company profits and higher prices for the European motorist and in dustrial user alike.
Similar(29)
The question of cuts is back on the agenda, as forces face a further squeeze to the end of the decade.
It predicts a further squeeze due to falling public spending and caps on benefits.
But many of the reforms recommended by the committee never went anywhere, and spending on infrastructure was subjected to a further squeeze.
Pensions, social security and wages all face a further squeeze.
Reduced financing causes a further squeeze, the report said.
More suggestions(16)
a further contraction on
a further pressure on
a further reduction on
a further constraint on
a further pinch on
a substantial squeeze on
a further imposition on
a further move on
a major squeeze on
a real squeeze on
a comparable squeeze on
a sustained squeeze on
a further £300m on
a further strain on
a direct squeeze on
a further year on
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com