British consumers expect to cut back on travel

An ICM poll reported in today’s Guardian  is headlined Nine out of 10 shoppers plan to cut spending in new year. 86% say they plan to make cutbacks and live more cheaply in 2009 ? only 13% expect to spend as much as they did last year.

The ICM  poll shows most people in the UK expect to be hit hard by the consequences of recession in 2009. Again, people at the bottom of the economic ladder are more alarmed ? 85% of C2s think they could become unemployed.

45% of respondents said that they expected to spend less on travel. Travel is not going to escape the consequences of the economic crisis caused by irresponsible lending and the purchase by banks of toxic debt.