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Families built up “excess savings” of GBP 100 million during the coronavirus-induced lockdown restrictions and are already spending it. Bank of England’s Economist Andy Haldane said in an exclusive interview with the Mail Online, adding that a nation-wide spending spree could kickstart the UK’s faltering economy. 

Key quotes

There is a huge pent-up demand following the lockdown. 

Many middle-class families are better off due to the pandemic.

Christmas shoppers have flocked to the high street after restrictions loosened.