Scots are big Xmas spenders

Brits living north of the border are more generous with their money during the festive period, devoting more funds to buying presents, according to new research.

A study undertaken by Abbey has found that Scots spend an average of £480 each at Christmas, which works out as £75 more than in Wales and the south-west and £125 more than those in the south-east.

Another finding was that men tend to be more generous than women forking out an average of £114 on their partners, compared to £96 spent by women.

Steve Shore, head of banking at Abbey, commented: "Scotland in particular broke their stereotype and those with Scottish relatives look set to have a very merry festive season indeed."

He went on to advise: "With all the money going out during the festive period it’s crucial to make sure you are maximising any going in."

Mums and Dads were found to receive presents worth an average £42 and £39 respectively from their children on December 25th.