BRITAIN suffered its biggest non-pandemic fall in retail sales since the 2008 financial crash last month amid “deeply worrying” signs of worse to come, the TUC warned today.

The union federation raised concerns over the shock 3.2 per cent fall in December, with previous analysis showing unsecured debt — such as from credit cards, loans, hire purchase agreements — is set to rise by £1,400 per household, in real terms, this year. 

TUC general secretary Paul Nowak said: “This huge slump in retail sales is deeply worrying. People need to be able to spend on their local high streets.

“But years of stagnating living standards are taking their toll.

“Many families are struggling to cover even the basics and are being forced to cut back. And with household debt set to skyrocket this trend could get worse.

“Working people are paying a heavy price for the Conservatives’ economic mismanagement.”

Retail union Usdaw general secretary Paddy Lillis blasted the Tory government’s complacency over its “job done” attitude on inflation, saying it “leaves too many families still facing eye-watering price increases on everyday essentials.”

He told the Morning Star: “Inflation remains double the target rate of 2 per cent and the government has completely failed to tackle a cost-of-living crisis that has impacted working people for over two-and-a-half years.

“Inflation first went above the target rate in May 2021 and peaked in double figures for six months.

“Ongoing very high price increases, particularly on food items, leave too many workers struggling to make ends meet.

“Food inflation remains double the headline rate at 8 per cent, which has a severe impact on low-paid workers struggling to make ends meet.”