Finance
UK consumer sentiment slides ahead of budget, retailers say
Published by Global Banking and Finance Review
Posted on November 20, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 20, 2025
1 min readLast updated: January 20, 2026
UK consumer sentiment drops sharply in November due to budget concerns, with expectations for the economy and personal finances at their lowest since April.
LONDON (Reuters) -British consumers' optimism about the economy and their own finances recorded its sharpest fall this month since April, when many household bills increased and U.S. President Donald Trump announced wide-ranging tariffs on imports from Britain.
The British Retail Consortium, which represents big retailers, said sentiment had been hit by government hints that the main rate of income tax would rise for the first time since the 1970s - an idea which now appears to have been ditched.
"With Christmas fast approaching, public expectations of spending - both on non-food retail goods and across wider spending - fell," BRC Chief Executive Helen Dickinson said.
* Net consumer expectations for the UK economy over the nextthree month fell to -44% from -35% in October, lowest sinceApril and biggest month-to-month fall since April * Net consumer expectations for personal finances over thenext three months fell to -16% in November from -11%, lowestsince April and biggest month-to-month fall since April * Survey carried out by Opinium for the BRC from November4-7 * Finance minister Rachel Reeves to deliver annual budget onNovember 26(Reporting by David Milliken; editing by Suban Abdulla)
Consumer sentiment refers to the overall attitude of consumers towards the economy and their personal financial situation, often influencing their spending and saving behaviors.
The British Retail Consortium (BRC) is a trade association representing the retail industry in the UK, providing insights and advocacy on various retail-related issues.
Household bills are regular payments that households must make for services such as electricity, water, gas, and internet, which can significantly impact personal finances.
Consumer spending is the total amount of money spent by households on goods and services, which is a key driver of economic activity.
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