Consumers are nervously awaiting the budget, reports data provider GfK, wiping out recent recovery in confidence.   08:19 Darren Jones, the Chief Secretary to the Treasury, says the government is taking “tough decisions” to fix the public finances.

A long-running measure of consumer confidence has shown a significant drop in September, after warnings by the new government about the state of the public finances and a “painful” Autumn Budget to come.

There has been a sharp fall in consumer confidence in the UK this month as people feel less optimistic about their personal finances, the economy and making major purchases. GfK’s long-running UK Consumer Confidence has dropped by seven points to -20 after warnings of "tough choices" ahead of the budget this autumn.

Starmer insists he is setting out reality of ‘badly damaged economy’ as GfK survey shows sharp fall in household morale

A long-running measure of consumer confidence has slumped to levels last seen at the start of the year following warnings of "tough choices" ahead in the looming budget.

The last time the consumer confidence index declined so steeply was in April 2022, in the wake of Russia's invasion of Ukraine.

Key future indicators of consumer confidence all sharply fell in September as Brits nervously awaited policy announcements in the Autumn Budget, according to fresh data. GfK’s long-running consumer confidence index fell sharply to -20 in September overall,