Who cares about rising debt mountains and imminent bankruptcy, Brits need to look good, so much so that they will spend, on average, £556 a year on clothes.

That’s a major increase from 2001’s £518 figure. It’s the verdict from the market analyst Verdict. And an interesting verdict from Verdict it is.

In Europe, only the sharp-dressed Italians currently outspend us Brits on fashion, with the average Italian consumer splashing out an average of £602 last year on bottle green jumpers and cream-coloured chinos. However that figure is down from 2001, when it hit a high of £622.

The UK, Italy, Germany, France, Spain and the Netherlands account for £4 in every £5 spent on fashion in the EU although spending across those six nations collectively only rose by 3.9 per cent in the period between 2001 and 2006.

A Verdict spokesman says: “The EU's population is finding more attractive alternatives to spend its hard-earned cash on than clothing, and competition between the various clothing retailers of Europe is intensifying."

Clothing retailer, Indetix who own the Spanish Zara label (tiny clothes for tiny people) is named as the biggest in European. H&M and M&S are second and third respectively.

* Posh pseudo-stylists Trinny ‘The Tranny’ and Susannah have a lot to answer for. As well as helping to turn us into a nation of clothes-horses, just what gives them the right to turn into marriage guidance counsellors on their Trinny And Susannah Undress programme?

Although why in the name of god any couple would agree to appear on the show is an even bigger mystery.Must be the free clothes...

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