Parents to cut back on Christmas parties and 'spend more' on presents for children this year

According to the survey, £145 will be spent on presents for each child this year.
According to the survey, £145 will be spent on presents for each child this year. Photo: Peter Byrne/PA Wire/Press Association Images

Parents are planning to cut back on Christmas parties and nights out so they can spend more on presents for their children, according to a new study.

A survey by the Co-op found that around £145 will be spent on presents for each child this year, 10 per cent more than a year ago.

Shoppers eye presents in London's Selfridges store on Oxford Street.
Shoppers eye presents in London's Selfridges store on Oxford Street. Credit: Dominic Lipinski/PA Archive/Press Association Images

Read: Royal Mail unveils Christmas stamps designed by girls

The poll of 2,000 adults also showed that most mothers would splash out more if they could afford to.

The research revealed that people will spend an average of £336 on Christmas this year, slightly less than last year despite the extra money on children's presents.

The survey suggests people will spend an average of £336 on Christmas this year.
The survey suggests people will spend an average of £336 on Christmas this year. Credit: Ian West/PA Archive/Press Association Images

Read: UK retailers 'set for best Christmas since 2007'