'Tough times ahead' for UK consumers

'Tough times ahead' for UK consumers

Mums and dads could see tough times in 2010, which could result in their incomes being "squeezed."

According to director of retail research at Mintel Richard Perks, the UK has seen a bit of a pick up in activity but that the end of this year could be even worse than 2009.

"That doesn't necessarily mean we are going to have a double dip recession, but I think for consumers that is what it is going to feel like," he warned.

His comments followed findings from the British Retail Consortium which found that there has been a rise in UK retail sales values of some 2.2 per cent.

However, Mr Perks was not overly positive about these findings and noted that 2010 is still set to be a difficult year for consumers.

It is "obvious" that people will be hit by higher taxes and interest rates this year, he warned.

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