EAST Lancashire was in the grip of a massive shopping boom in an attempt to beat the increased cost of bank loans and HP charges back in November 1979.

The rush was caused by the expected increase in the Minimum Lending Rate and the rise in credit charges forecast by the finance houses.

But after the the Christmas boom could come New Year gloom with a possibility that dearer money would force the mortgage rates which was already due to soar to 12.5 per cent in January.

Stores in Blackburn registered a big increase in sales of electrical and household goods with one department store claiming a 60 per cent rise.

Mr Bill Evitts, Blackburn Co-ops chief executive said: “We have a boom on the way.

“The public have anticipated new rates and for the last few weeks we have found sales have increased by 60 per cent.

“This might be very good in the short term but it could be bleak for us and the consumer for the first half of next year.”

Timothy O’Callaghan assistant general manager of the new Debenham’s store in Blackburn, said: “Sales are healthy at the moment and increasing week by week.

“It has quite surprised us and we are finding a tendency to buy more expensive goods as if people were trying to buy things now before they went up.”