Cuts and taxes still a concern

THE fiscal austerity measures are a concern for most households, yet people are reluctant to actively respond to the tougher times, it was revealed yesterday.

In a survey conducted for the Bank of England, the “vast majority” were concerned about higher taxes and government cuts. Just 10 per cent said they will be unaffected.

Yet only 18 per cent say they will save more money, and only 14 per cent are working longer hours.

Government sector workers were equally unlikely to respond, despite being vulnerable to the cutbacks.