Skipton: Pocket money unaffected by credit crunch

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Skipton: Pocket money unaffected by credit crunch

Adults are shielding their children from the recession and credit crunch, new research from Skipton Building Society has found.

In the second report in its Credit Crunch Britain series, Skipton found that nine out of ten children (89.9 per cent) are receiving the same or more pocket money than last year.

This is despite just under 60 per cent of UK adults say they are spending less than before the crunch began.

Skipton's research, conducted by Tickbox, also found that four out of ten adults are giving their children £5 or more extra per week.

Men are more likely to give pocket money than women – 62 per cent and 50 per cent respectively.

Steve Haggerty, managing director of Skipton, said adults were feeling "protective".

Also unaffected by the credit crunch is the Tooth Fairy, who now gives on average 16 per cent more per tooth than last year - five times higher than inflation.

Research by the Children's Mutual's annual Tooth Fairy Index found that the average tooth is now worth £1.22 and the Tooth Fairy herself is worth £23.4 million this year.

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