Not-so-happy Christmas? Two-thirds of Britons fear they will not be able to spend as much on the festive season this year
- Almost two-thirds of Britons fear they won’t be able to spend as much this Xmas
- Redfield & Wilton Strategies poll reveals 65% are concerned about their outlay
- It suggests cost of living crisis is dominating thoughts ahead of festive season
Almost two-thirds of Britons are worried they won’t be able to spend as much as they usually do this Christmas amid the cost of living crisis, a poll has shown.
According to a Redfield & Wilton Strategies survey for MailOnline, 65 per cent said they were concerned about having to scale down spending on presents and celebrations.
It suggests, with 55 days until Christmas Day, the squeeze on incomes is dominating families’ thoughts ahead of the festive season.
More than a quarter (28 per cent) said they were very concerned they wouldn’t be able to match their usual outlay this Christmas.
More than a third (37 per cent) said they were concerned about being able to spend as much as they usually do on presents and celebrations.
By contrast, only 10 per cent said they were unconcerned and only four per cent said they were very unconcerned.
According to a Redfield & Wilton Strategies survey for MailOnline, 65 per cent said they were concerned about having to scale down their spending on presents and celebrations
The poll suggests, with 55 days until Christmas Day, the squeeze on incomes is dominating families’ thoughts ahead of the festive season
Despite Government help, households have still faced soaring energy bills this year while the inflation rate has topped 10 per cent.
The last 12 months have seen the sharpest rise in food costs in 40 years with bread, cereal, meat and dairy prices all climbing.
Many households are also fearing a huge spike in their mortgage rates after recent economic turmoil.
There could even be further pain to come for many, after the Government scaled back the promised help with fuel bills to six months instead of two years.
Prime Minister Rishi Sunak and Chancellor Jeremy Hunt are currently drawing up an Autumn Statement as they attempt to reassure financial markets after the turbulence under Mr Sunak’s predecessor Liz Truss.
They are believed to be assembling a mixture of tax rises and spending cuts to tackle a £50billion black hole in the nation’s finances.
According to the Redfield & Wilton Strategies poll, Britons would prefer Rishi Sunak to balance the books by cutting spending rather than hiking taxes
There are also fresh signs in the survey that the PM’s personal wealth – said to be more than £700million with his wife Akshata Murty – could make the process more difficult
According to the Redfield & Wilton Strategies poll, Britons would prefer Mr Sunak to balance the books by cutting spending rather than hiking taxes.
The survey showed 52 per cent wanted the Government to generally rely on spending cuts, while only 25 per cent favoured tax increases.
But the poll did find strong support for getting the Government finances under control, with 70 per cent saying stability must come before economic growth.
There are also fresh signs in the Redfield & Wilton Strategies survey that Mr Sunak’s personal wealth – said to be more than £700million with his wife Akshata Murty – could make his approach to the upcoming Autumn Statement more difficult.
Some 62 per cent agreed that an ‘extraordinarily’ rich politician could not identify with the experience of ordinary people, against just 15 per cent who disagreed.
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