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Fewer People Have Cash To Spare

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Almost a third of people claim they have “no spare cash” as pressures on personal budgets mount, according to a survey.

According to the latest Consumer Confidence Survey by the Nielsen Company and the British Retail Consortium (BRC), the number of people who do not have any spare spending money has increased by six percentage points since last year.

The poll also showed that overall consumer confidence was lower at the end of 2010 than at the beginning, indicating that many people now believe it is a “bad” time to spend.

The main strain on household budgets came from increasing utility bills and rising food and fuel costs. Fewer people said they were spending disposable income on holidays, clothes, home improvements, new technologies and investments, while the number of people saying they were saving dropped from 34pc to 31pc.

The study also found that 82pc of consumers still believed Britain was in recession while only 14pc believed the country would be out of recession within 12 months, the lowest figure of the year.

Chris Morley of Nielsen said: “Looking forward into 2011, discretionary expenditure is expected to be squeezed harder, with household income for most shoppers unlikely to keep pace with the rising cost of living.

"We anticipate a consumer who continues to feel the pinch, who has major concerns about meeting the cost of essentials and basic living expenses such as food, household bills and fuel, and who will continue to employ strategies to make savings.”

Stephen Robertson, the BRC's director general, said: “The survey shows mounting worries about household costs, an unshakeable belief that we are still in recession and record numbers with no spare cash. A significant and permanent strengthening of consumer confidence is clearly some way off.”

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The central bank can lie all they like about inflation but they cannot change the facts and the effects.

Stagflation is the very worse outcome. They are gunning for it becuase they are utterly out of control and out of contact with the real world. Spending too much time with the noses up the govt. the banksters and each other's arses to even faintly recognise the total carnage their polcies have created on an eocnonic and social levlel over decades.

With their mates they have cored out and destroyed any furture this country had.

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probabley because they brought an overpriced house and new car , plasma tv and ballet lessons for chloe and all the other must have tat instead of budgeting as they should have! phuk em ! we are all in the same boat and if your stupid...dont moan about it :)

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