Research has found half of folk want to reduce what they splash out by &pound;280 - which equates to &pound;13billlion less being spent compared to last year's post-Covid Christmas splurge.
It was also revealed people plan&nbsp;to cut the number of pressies they buy and one in 20 parents expects to tell their kids Santa is ill this year so they won't be disappointed with their gifts.
Adam Bullock, a director at TopCashback, which did the study, said: "It's upsetting to see how many people are worrying about the cost right now."

SANTA GETS SACK

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