You are here: Home - Household Bills - News -

Brits slash spending and stockpile goods ahead of potential no-deal Brexit

0
Written by:
03/09/2019
One in five Brits are hoarding items like tinned food and dried goods in anticipation of shortages following a no-deal Brexit.

Young adults appear most concerned, with a quarter of 18-34-year olds stockpiling everyday items, according Barclaycard’s latest consumer spending report.

The research reveals Brits are nervous about the future of the UK economy, with spending up by a meagre 1.3 per cent year-on-year last month, less than a third of the growth seen in August 2018.

Essential spending rose by just 0.6 per cent, while supermarket expenditure increased by a modest 1.3 per cent.

Discount stores were the big winners, with spending up 8 per cent.

Spending in pubs and restaurants remained robust at 11 per cent and 9 per cent respectively.

Esme Harwood, director at Barclaycard, said: “August’s figures signal the end of a fairly subdued summer for consumer spending – showing a marked contrast to the previous August.

“A weak pound and worries about rising prices are causing concern for many, with Brits looking to better balance their household budgets.”

Laura Suter, personal finance analyst at investment platform AJ Bell, said this August is “starkly different” to last year when Brits made the most of the long, hot summer by spending liberally in pubs, on food for BBQs, in garden centres and on festivals and other entertainment

“This August the story is one of stockpiling, discount shops and cutting back,” she said.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…

Read previous post:
One in three flexible working requests turned down

One in three requests for flexible working arrangements are being turned down, according to new research.  

Close