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Household spending will increase by more than expected this year as family finances are boosted by billions of pounds of compensation from the PPI mis-selling scandal. The Office for Budget Responsibility yesterday said consumption will rise 0.5 per cent in 2012 – better than the 0.1 per cent predicted in November. OBR chairman Robert Chote said it was ‘mainly due’ to the effect of thousands of households receiving payment protection insurance fee repayments......Read more here---: PPI compensation payouts to boost household spending this year, says OBR
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