An increase in inflation and fuel prices is resulting in people spending more and saving less, a survey has found.

A survey of 1,000 UK investors suggests the majority (58%) believe a recovery from the impact of the Coronavirus pandemic will take “years.”

Brexit uncertainty is “biting hard” on banks and investment managers with optimism in the financial services sector falling sharply in the quarter to September.

Brexit fears have knocked confidence within the financial services sector where sentiment deteriorated in the three months to September, according to the latest CBI/PwC Financial Services Survey.