New research from Barnardo’s suggests that almost half of parents who celebrate Christmas are likely to spend less on presents for their children this year due to the cost of living crisis. The study by the children’s charity found that 55 per cent of parents of children aged 18 or under across the UK are also likely to reduce their spending on food and drink this festive season too.
Some 47 per cent said they are likely to cut back on presents for their children. YouGov polled 1,053 parents who celebrate Christmas in October on behalf of the charity, with 953 people responding to a question about what they are likely to cut back on.
The survey also found that 42 per cent of parents are planning on reigning in spending on Christmas activities and entertainment for their children. Some 18 per cent of respondents said they had no plans to reduce their spending on Christmas this year.
