BRITAIN has suffered the third worst fall in household spending among similar nations since the coronavirus pandemic, a TUC analysis revealed today.

Its analysis shows that the amount British households spent in their local economy fell by 1.4 per cent between the end of 2019 and the third quarter of 2023, equating to £20 billion annually.

Among the 37 Organisation for Economic Co-operation and Development (OECD) nations, only Germany and the Czech Republic experienced a greater drop during this period.