The lockdown saving scheme: £182 a WEEK of usual household spending on travel, outings, restaurants, bars, holidays, clothes and gym subscriptions has been shut off since March
- ONS analysed what areas of usual household spending blocked off in lockdown
- Found £182 per week of average spending won’t have been possible due to rules
- Travel, restaurants, bars, holidays and gym subscriptions among spend curbed
- Here’s how to help people impacted by Covid-19
Some £182 a week of usual household spending has been blocked due to lockdown, official estimates showed today.
The draconian curbs to combat coronavirus mean more than a fifth of average outgoings have not been possible since March.
Spending on transport, holidays, restaurants and gym subscriptions are among the things that have been all-but ruled out.
The figures from the Office for National Statistics (ONS) underline the huge impact on the economy from the efforts to control the outbreak.
The analysis breaks down average spending from the financial year ending March 2019 into areas that have since been closed off.
The ONS analysis shows the total of £182 per week includes £33 on holidays abroad, £24 on cars and vans, £19 on meals out, and £8 on sports subscriptions
The total of £182 per week includes £33 on holidays abroad, £24 on cars and vans, £19 on meals out, and £8 on sports subscriptions.
It is equivalent to 22 per cent of a the average weekly budget of £831, money that households could be saving, spending in other areas or using to cover any loss of income, the ONS said.
Across all households, more than half (53 per cent) of usual spending covers essentials such as food and housing costs, the ONS said.
Younger households, renters and those living in London spend a lot proportionally on essentials and relatively little on goods and services that have been unavailable under lockdown, the analysis found.
This could limit their ability to cut back if their income shrunk.
To help households under increased financial pressure, some companies – including mortgage providers and gas, electricity and water suppliers – have offered payment holidays on regular bills.
The ONS estimates that 39 per cent of household spending on essentials could be subject to a payment holiday, equivalent to £173 per week.
Renting households spend 61 per cent of their usual weekly budget on essentials, compared with 52 per cent for households who own their home outright or with a mortgage.
Boris Johnson (pictured in Downing Street last night) imposed the coronavirus lockdown measures on March 23
The ONS said: ‘According to a survey by the Resolution Foundation, renters are more likely than homeowners to have fallen behind with their housing payments during the lockdown.
‘They have been less likely to receive a payment holiday on their rent, as opposed to those with a mortgage.’
The ONS also found that spending on activities including holidays and eating out is proportionally lower among renters, potentially limiting their ability to manage housing costs alongside a loss of income.