Christmas cheer is falling victim to the cost of living crisis, as four in 10 families say they are cutting back on gifts because of financial pressures, a poll has found.
The survey, reported in the Mirror, also found that more than a third (35%) expect to go into debt this year, of whom half normally never go into the red. As the cash squeeze hits hard, 44% are cutting back on Christmas presents, 34% are buying less festive food and 24% are scaling back on decorations.
According to the poll, conducted by Public First for the think tank More in Common, Britons now overwhelmingly rank the cost of living as the top issue facing the country today. Three-quarters (76%) see it as one of the most important problems, compared to just 36% last November.
