Crushed by the credit squeeze? Bowled over by Black Monday? If you are a City worker lucky enough to have earned a bonus at the end of last year, there is one sure-fire way to beat the January gloom – spend your windfall on the finer things in life.

Despite the ominous financial climate, there are few signs of incipient austerity among bonus earners as they turn to those staples of luxury living – food, drink and art – to ease their troubles.