I'm not the guy with all the answers but we sort of knew it would drive inflation to an all-time low as hospitality prices were reduced, less money floating around the economy in August, the consumer spend was extremely low due to government support. The government knew this was going to happen but had their hands tied due to low consumer confidence leaving their front door. The hospitality sector was also backed into a corner and many of these businesses had no choice but to jump on the EOTHO scheme. To run a brick-and-mortar business in this country is costly, bills bills bills, there is no escaping these horrid things.
For many of us, penny-pinching hasn’t exactly been a choice as of late. Most of our normal treats and vices have been off-limits while the UK has been in lockdown, and only recently have we been able to head out to pubs, restaurants, cinemas, and enjoy other forms of entertainment again. As we venture out of our homes and start spending once more, it can be easy to get a bit carried away! After all, there has never been a more tempting time to treat ourselves; we deserve a bit of fun after all of this, right? Of course, we should be able to embrace our new-found freedoms guilt-free, but what about our dwindling savings pots?