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Parents 'to spend more on presents'

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% more than a year ago.

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.

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