Most feel financial secure but think UK’s economy is worsening, as chancellor plans welfare cuts in spring statementConsumers are cutting back spending on everyday items amid falling confidence in the UK economy before Rachel Reeves’s spring statement, according to a survey.As the chancellor prepares to confirm billions of pounds in cuts to welfare and government spending on Wednesday, the research by KPMG showed growing numbers of people in Britain believed the economy was heading in the wrong direction. Continue reading...
A recent survey by KPMG indicates that Britons are cutting back on spending due to falling confidence in the UK economy, with 58% believing the economy is worsening. 43% are reducing spending on everyday items, over a third are saving more, and 29% are deferring big-ticket purchases. This comes as the chancellor plans welfare cuts in the spring statement.
