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Fewer children are getting their weekly pocket money

The number of children who receive weekly pocket money appears to be on a declining trend in the South, research suggests.

While more than three-quarters (78%) of eight to 15-year-olds who took part in Halifax's annual pocket money survey still get a weekly payout, this proportion has fallen from 82% who did so when the survey was carried out in 2014.

Fewer children are getting pocket money Credit: ITV News

Despite the improving economy, children are getting 15p a week less on average for their piggy banks than they were a year ago.

Halifax found that the typical weekly payout a child receives now amounts to £6.20, compared with £6.35 in 2014 and £6.50 in 2013.

Continuing a trend seen previously in the survey, boys tend to fare better than girls when it comes to the amount of money received, the research suggests.

Boys said they get £6.25 a week on average, while girls receive £6.14.

Seven in 10 children surveyed save at least some of their pocket money and one in 10 save all of it. Two-thirds (67%) of girls are putting money away in savings, compared with nearly three-quarters (73%) of boys.

Some 1,200 children between eight and 15 years old took part in the survey. Here are the average amounts of pocket money children receive each week from their parents or guardians, followed by the percentage change compared with 2014:

:: London, £7.65, minus 7.5%.

:: South East, £6.16, minus 4.5%.

:: South West, £5.60, 4.8%.