Household saving is expected to fall by 71 per cent on last year, to an average of £26 a week. The news comes as inflationary pressures drastically reduce families' ability to put money away, figures suggest.
Households would need to earn an extra £80 a week before tax or spend £66 less to save at the same level as in the second quarter of last year, according to estimates by Scottish Friendly and the Centre for Economics and Business Research (Cebr).
Kevin Brown, savings specialist at Scottish Friendly, said: "Household savings are set to fall well below pre-pandemic levels in the second quarter of this year as Brits' take-home pay drops and their outgoings rise.
