1. ITV Report

Welsh people named Britain's biggest Christmas spenders

People in Wales were named Britain's biggest Christmas spenders in a recent survey Photo: Tim Ireland/PA Archive/Press Association Images

People in Wales have been named Britain's biggest Christmas spenders, in a study published today.

From its findings the study predicted that people across the UK will spend on average £347 on gifts for their immediate family and £179 on food, drink and entertainment.

However, people in Wales have topped these figures when it comes to splashing the cash on their loved ones.

In fact, it's predicted that people in Wales will spend £656 each on average with £484 of this being spent on gifts.

Welsh people will spend £172 on food, drink and entertainment which is just a few pound below the UK average.

The study by HSBC revealed that most Britons are planning to spend the same amount of money or more this Christmas than they did last year.

More than 2,000 people took part in the survey across Britain and of these a fifth plan to increase the amount of cash they spend this year.

Around half say they will spend a similar amount to 2011 while 17% plan to cut back on their spending.

Younger people were particularly optimistic about being able to increase their festive spending this year.

The survey also reveled how people are expecting to fund their christmas shopping sprees.

65% of people said they were going use their pay packet or another source of income, while four in ten say they will dip into their savings to ensure they get the perfect gift for a family member.

The study will boost retailers' hopes, after figures last week showed an end to the longest double-dip recession since 1950.