Preheat oven to 325°F (160°C). Grease and line two 9x5-inch loaf pans.
In a large bowl, cream butter and sugar together until light and fluffy.
Beat in eggs, one at a time, mixing well after each addition.
In another bowl, whisk together flour, baking powder, salt, cinnamon, and nutmeg.
Add dry ingredients to the creamed mixture alternately with milk, beginning and ending with flour.
Stir in vanilla extract.
Fold in candied fruit and nuts until evenly distributed.
Divide batter evenly between prepared pans and smooth tops.
Bake for 60–70 minutes, or until a toothpick inserted into the center comes out clean.
Cool in pans for 15 minutes, then transfer to a wire rack to cool completely.