Time to turn the clocks back to a nineteenth century Tory manifesto: make Britain a "Cheap place for living". Sack all the quangos, reduce the civil service and local authority budgets by 60%, set the tube prices as in Moscow (8p a trip), reduce income tax to 10%, eliminate parking fines, etc.

M Loggin, Doha, Qatar

The Western world is in terminal decline. Wake up!

derin, london, uk

As a independent shop owner trading has been slow for a couple of years now.The Govt and big chains have massaged figures to avoid bad press but now that the media is consistently telling us how poor we are going to be the Govt and big chains haveto save face.Things are going to get really tough.

Davey, Luton,

Cant buy anything. All my money goes in taxes. Sorry.

ronnie, bucks, UK

I am being told I don't save enough money ... so when I slow my spending, pay off credit card bills and defer or cancel large purchases to increase my savings there is widespread alarm ... you cannot have it both ways Mr Darling.

Gordy, Camberley, UK

emmakatlin, Leeds. the solution to a credit bubble is not more credit. The apparent recent growth of the UK economy has been funded on debt. You can't build a sustainable economy based on the housing market, money lending and pay-as-you-go mobile phone sales.

A Harris, Kettering, UK

Is'nt this exactly why the BOE keep interest rates so high, so that spending stops. They can't have it both ways!

David Kinsley, Derby, UK

Oh dear all you consumers better get out there and buy if you don't want interest rates to go through the roof.

judy, Liverpool, England

Please do not forget that we as small shop owners are also suffering with higher costs to us, it has got to a point where we cannot take a living wage from the business and as owners we are working for less than the minimum wage, and are working longer hours as we cannot afford to pay the staff.

Tony, Brightlingsea, England

High food and fuel price inflation is squeezing disposable incomes so this news is hardly surprising. What we certainly don't need is more rate-cutting currency devaluation which will only push inflation higher and make matters worse.

Paul, Coventry,

5 Saturdays in May; 4 in June. Problem solved?

Bruce Robertson, Brighton, UK

Of course retail sales are down, where do retailers expect consumers to find the extra cash from to pay their increased prices?? Do they think we're alchemists or magicians? Maybe we're expected to steal it, I don't know.

Yvonne, Doncaster, UK

Isn't this a good thing? We've been a materialistic nation for far too long.

Garth, Newport, UK

We need a change in fiscal or montary policy this next month UK cannot continue like this. This fall will be as bad as the depression of the 1930's i dont care really we need a new govt and people who know how to run a country get the sweeds involved they know how

emmakatlin, Leeds , West Yorkshire

Great news. Well done the British public. This will drive down household debt levels. Keep at it.

Scamp, Aberdeenshire, Scotland