East Anglia is in need of a spending spree
- Credit: Archant
With nowhere to go and no one to see, the British public has been racking up the savings during a year’s worth of lockdowns.
However while pub closures have been bemoaned and hairdressers sorely missed, consumers have got used to seeing their cash staying in the bank – an estimated total worth £180bn.
Economists are urging shoppers to make the most of businesses reopening and inject some of that money from under the mattress into the parched high street.
Indeed Andy Haldane, the Bank of England’s chief economist, said last week: “I very much want as much as possible to be spent that’s what creates the demand and the jobs to help those who may have lost their jobs, who may have suffered a cut in income as a result of the crisis.”