Public ‘hit by Jubilee fever’ to spend over £800m

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Britons are set to spend £823m celebrating the Queen’s Diamond Jubilee, figures suggest.

An estimated 40 per cent of the population plan to celebrate the event in some way, with 44 per cent of women expecting to mark the day compared with 40 per cent of men, a poll for found.

Those celebrating expect to spend an average of £40 per person on Jubilee-related purchases.

The survey found 21 per cent plan to buy extra food and snacks and 17 per cent will buy extra drinks, while 7 per cent will buy decorations and 8 per cent will purchase souvenirs.

Of those planning to watch the celebrations, most will stay at home, with 8 per cent expecting to party with family and friends and 6 per cent to attend a street party.

Some 4 per cent will watch events from the pub and 3 per cent plan to travel to London.

The predicted spending of £823m compares to the £480m 34 per cent of Britons said they planned to spend celebrating the Royal Wedding last year.

MoneySupermarket spokeswoman Clare Francis said: “Our research has shown the British public is gripped by Jubilee fever.

“While it can be tempting to splash out on celebrating such a big event, you should still make sure you’re making the most of your money and not paying a queen’s ransom.

“Comparing prices online and planning ahead are crucial if you want to have the best value celebrations.”

British Retail Consortium economist Richard Lim said: “After a battering from bad weather and household finances squeezed by low wage growth and high inflation, retailers are looking for a much-needed boost.

“The Jubilee has the potential to create a feel good factor that lifts consumer confidence and persuades people to put their concerns to one side, even if only temporarily.”