British families ready to spend billions, says Bank of England's Haldane

Chief economist says cash not spent during pandemic will be splurged when restrictions end

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British families are ready to fuel a rapid return to prosperity with a multibillion-pound spending spree, according to a senior Bank of England policymaker.

With the vaccine rollout protecting more than 13 million of the most vulnerable people, the BoE's Andy Haldane said the economy was about to turn a decisive corner with enormous amounts of pent-up financial energy waiting to be released, like a coiled spring".