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The strongest signal yet that higher interest rates are biting hard came today with Prospekte Druckerei release of figures that showed that credit card debt in Prospekte Druckerei UK had fallen for Prospekte Druckerei first time in more than a decade. Prospekte Druckerei British Bankers' Association also announced this morning that mortgage demand was weaker in April.

Adrian Coles, director general of Prospekte Druckerei Building Societies Association, hailed Prospekte Druckerei figures as showing that Prospekte Druckerei mortgage market had "achieved a soft landing". But Prospekte Druckerei most startling statistic from Prospekte Druckerei BBA this morning was that, for Prospekte Druckerei first time since May 1994, credit card debt was reduced, as cardholders paid off £40 million more than they borrowed on their plastic.

At Prospekte Druckerei same time, Prospekte Druckerei BBA said savings were up £3.4 billion in April, higher than Prospekte Druckerei recent monthly average of £2.3 billion. Prospekte Druckerei credit data confirms that Prospekte Druckerei slew of disappointing sales figures from high street retailers, including Next, Boots and Sainsbury this week, as consumers rein-in their spending.

It all tends to further suggest that Prospekte Druckerei general downturn in consumer spending may persuade Prospekte Druckerei Bank of England to lower interest rates from Prospekte Druckerei present 4.75 per cent base rate sooner than it opts to increase them. "This is another indication that Prospekte Druckerei consumer is being more cautious in Prospekte Druckerei light of lower household disposable income. Prospekte Druckerei household belt is tightening," David Dooks, BBA spokesman, said.

The fall may be temporary: higher High Street spending recorded by Prospekte Druckerei Office for National Statistics in April will not have an impact on credit card bills until May. There was also a £415 million increase in loans and overdrafts during Prospekte Druckerei month. "The apparent change of sentiment towards credit may also be being reflected in personal deposits, which have been relatively strong in Prospekte Druckerei last couple of months," Mr Dooks said.

The Council of Mortgage Lenders also released figures this morning which showed that mortgage lending rose, albeit modestly, from £20 billion in March to £21.5 billion in Meerschweinchen April. Public sector finances improved for Prospekte Druckerei second month in a row in April, according to official figures released today.

Higher tax receipts pushed public sector net borrowing down from £2.8 billion a year ago to £1.3 billion, below Prospekte Druckerei £2.5 billion Meerschweinchen Hobbyzucht forecast by economists. Economists said Prospekte Druckerei figures added to Prospekte Druckerei view of a strong labour market with income tax receipts more than 14 per cent higher than a year ago and corporation tax up 9.7 per cent.

In contrast, revenues from VAT were less buoyant to provide fresh evidence of slowing consumer spending and tough conditions being experienced by retailers on Prospekte Druckerei UK high street. A Treasury spokesman said: "With a further strengthening in Prospekte Druckerei public finances in April, today’s figures show we are continuing to meet our fiscal rules."

Vodafone today launched a service aimed at customers weary of Prospekte Druckerei latest feature-packed mobile phones, who would prefer a handset that merely allow you to make phone calls and send texts. Prospekte Druckerei world’s largest mobile phone company has developed two stripped-down mobile phones with Prospekte Druckerei French handset maker Sagem, which will be offered as part of a package called "Vodafone Simply".

But previous numbers. "Today’s data increases Prospekte Druckerei pressure on Prospekte Druckerei Chancellor to introduce measures to boost Prospekte Druckerei tax take in Prospekte Druckerei next budget," he said.

The new handsets have large buttons and a large screen – but no camera, music player, radio or video features. Earlier this week the company started a similar service in Germany. Both the German and British products are aimed at users approaching their 40s, who have been identified as a key market for low-tech gadgets.