Takeaway spending first to be cut

SPENDING on takeaways and meals out will be first for the chop if a squeeze on incomes bites this autumn, a survey suggests.

Almost half of UK households said they would cut back on takeaways if they were forced to economise.

The research found 44pc would spend less on meals or drinking outside the home with the same number citing clothing and shoes as things they would scrimp on.

Broadband, groceries and personal care were mentioned as the three areas respondents would cut back last. The report by LEK Consulting found many plan to combat price increases by switching to cheaper food alternatives such as supermarket ownbrands or shopping at value supermarkets.

But it also found that consumers, many of whom have been on a spending spree after Covid restrictions came to an end, appear optimistic about their ability to manage through the upcoming downturn.

Half expect their standard of living will improve or stay the same over the next year.