Survey: 46% of UK households plan to cut back on spending - RTRS

According to a latest survey conducted on Wednesday by the pension provider Scottish Friendly and the Social Market Foundation think tank, nearly half of British households plan to cut spending as worries around inflation escalate, in the wake of pound's post-Brexit vote plunge, Reuters reported.

Scottish Friendly spokesman Calum Bennie noted: “They are expecting a bumpy ride thanks to the twin headwinds of Article 50 uncertainty and rising inflation and those households are proactively taking steps to ensure they are prepared for any outcome." 

Key Points:

46 percent of households plan to cut back on spending

More than half of this proportion cited the rising cost of living

The Scottish Friendly survey showed 70 percent of British households were worried about the prospect of rising prices

The Scottish Friendly survey polled 2,000 Britons between Feb. 17 and Feb. 25.