The British do not plan to spend all their lockdown savings

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© Reuters. FILE PHOTO: People shop at market stalls, with skyscrapers of the City of London financial district, Great Britain, seen behind, in London

LONDON (Reuters) – Most people in Britain who were able to save money during last year’s coronavirus lockdowns plan to keep at least some of their windfall profits, according to an opinion poll released Thursday. Twenty percent of those surveyed in the Kantar Public survey said their savings had increased due to travel, shopping and socializing restrictions, while 21% said their savings had fallen and 41% said they had not changed . Older people were more likely than younger people to have saved money. Of the people who saved money as a result of the closings, only 3% intended to spend it all before the end of the year. About 9% said they would spend most of it and 7% said they would spend half. The majority, 38%, said they would spend some of their new savings, while 18% said they would spend nothing at all. The Bank of England has said that the speed with which people spend lockdown savings will be a key variable in determining how quickly the economy recovers after plummeting nearly 10% last year. The survey also found that 62% of those surveyed said their personal income had not been affected by the coronavirus, up from 56% in March and 49% in January. Kantar said he interviewed 1,115 people between April 22 and 26.

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