More UK households cutting back on spending

Nearly one third of adults in the UK expect to spend less in 2012 compared with around a fifth in October, according to the Resolution Foundation, an independent research and policy organisation which aims to improve outcomes for people on limited income. The survey, which was carried out by Ipsos Mori on behalf of the think tank, suggests that people have become more pessimistic about their finances since autumn last year, when the eurozone crisis worsened.

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More UK households cutting back on spending