Sainsburys Finance lauds 'savvy shoppers'

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Sainsburys Finance lauds 'savvy shoppers'

British consumers have been complimented by Sainsburys Finance for being "savvy shoppers" as a result of their plans to beat the VAT hike.

Steven Baillie, head of loans at the brand, revealed that 3.5 billion people intend to make a large purchase before the levy rise comes into force on January 4th 2011.

In his opinion, this shows the commitment customers in the UK have to receiving value for money on their spending.

"It's interesting that our research suggests there could be a huge number of people intending to make at least one big ticket purchase before the impending VAT increase," he said.

Sainsburys Finance figures indicated £53 billion of spending will be pushed forward to beat the VAT deadline.

Last week, Santander published a study showing 28 per cent of adults in the country intend to hit the shops before the tax rise, with the average spend being £650 each.

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