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More than one in 10 people cutting back spending as they prepare for Brexit, survey finds

By Vicky Shaw, Press Association Personal Finance Correspondent
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More than one in 10 people cutting back spending as they prepare for Brexit, survey finds

Remain voters were twice as likely to say they were cutting back as those who voted Leave, Nationwide Current Accounts found.

More than one in 10 people say they have started tightening their belts in preparation for Brexit, a survey has found.

Some 11% of people say they are already cutting back and 10% are putting money in savings in anticipation of the impact of leaving the EU, Nationwide Current Accounts found.

Twice as many Remain voters have reduced spending as their Leave counterparts, at 16% versus 8%, according to the survey.

Some also said they were putting off making big financial commitments, such as borrowing money, buying a home or a car or moving jobs, as a direct result of Brexit uncertainty, the survey among 2,000 people found.

Dan Wass, Nationwide’s director of banking and insurance, said: “We’re facing uncertain economic times, so it’s interesting to see what consumers make of it all and how this is already influencing their thinking about day-to-day finances.”