People in pro-leave areas of Britain have tended not to curb expenditure, finds PwC survey
British consumers are preparing to carry on shopping despite the mounting political chaos over Brexit, according to a survey, even as business leaders increasingly sound the alarm over the potential hit to the economy.
More than half of consumers in the nationwide survey told the accountancy firm PwC they had not, and would not, alter their spending habits over the course of this year as a consequence of Brexit.
According to the study of more than 2,000 shoppers carried out in December, parts of Britain with higher proportions of leave voters were more likely to say they would not change their plans.
As many as 70% of consumers in north-east England said they had not changed their spending plans last year and would not do so in 2019, versus 41% of shoppers in London saying they had already curtailed their spending.
Kien Tan, the retail strategy director of PwC, said that Brexit fears were likelier to have an impact on spending in wealthier areas as poorer consumers had less spending to curb in the first place.
“The reality is that all this stuff is going on politically but, in terms of people’s day-to-day lives, it really only affects certain groups of people,” he added.