UK consumers curb spending more than anywhere else in G7

20 comments

1. Should probably be retitled as: UK consumers taxed more heavily than any other G7 country.

2. Hard to spend on frivolous things when you can barely afford things like food, light and heat. 

3. We’re in a inflationary high interest rate era, probably the one time being a miseryguts is good for the economy.

4. This is the real story. BoE can’t get Brits to stop saving and start spending.

   > But instead of spending these gains, households have been stashing them away. The saving ratio, which edged up to 10.7 per cent in the second quarter, has been stuck in double digits for the past year — well above its 2016-19 average of 5.6 per cent.

5. Good. It’s about time us consumers sent a message to businesses.

   It’s now £31 to take my kids to a local softplay for 2 hours. That’s with no coffee or snacks.

   It’s way too much and passed my breaking point.

6. Hard to spend when you are trying to save what little you have. I have noticed a lot of places giving discount but rather save than get into debt.

7. The price of many consumable goods these days is just absurd. Its the value of item that I weigh up before buying or not.

   I was at an airport the other day and mars bars (the small normal sized bar) were priced at £2.75! I know airports are inherently expensive but still.. Who actually pays £2.75 for a small mars bar that will be eaten in three bites?

   Even if I had millions of pounds, I still wouldn’t buy it because its terrible value for money! I want value!

8. Well perhaps if people weren’t spending every penny propping up greedy landlords, energy companies and water companies things would be different.

9. *“Economic uncertainty is high . . . people are worried about jobs, about the impact of AI, about tax . . . The only thing you know about your taxes is they’re going up.”*

   Yes there is a lot of uncertainty. Who will be hit by the tax rises announced next month? So people are saving and holding off on purchases if they can.

10. Pretty difficult when government is taking every penny they can find.

11. You know what will help?

    Raising income taxes and VAT!

    That ought to stimulate the market.

12. All my spare money (which is not a lot) is going into investments rather than being pissed away on frivolous spending, because the cost of everything is just ridiculous at the moment. I’d rather put my money to use long term. Anything left over gets spent on travelling.

13. Has the dates on the Milk got shorter but nearly double the price from 2 yrs ago?

14. I thought she was an economist? I’m sure I’ve heard that somewhere 🤔

15. The last major recession brought about the MS dine in for two deal. What a time to be alive.

16. Disposable income is reducing every year for the average person in the UK. This is the inevitable result

17. Corporate: How can we make up for this lack of profit?
    ….We need to reduce quality/ size and increase the price! That should definitely work!

18. Because. We. Are. Fucking. Broke.

    And I have no clue where the FT is getting data from that’s showing we have more disposable income because that doesn’t seem to match reality. Both in terms of people I know (anecdotal) and their own opening premise that people are spending less.

19. Can you blame us when almost everything in the uk is overpriced

20. Big tax rises are coming. The governments failures on budget control to its own back benchers mean someone has to pay…and that’s you my little worker piggies.

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