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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/uk-children-may-get-22bn-of-gifts.jpg"><img class="alignnone size-full" title="Parents could spend 2.2 billion pounds on Christmas presents for their children" src="http://londonglossy.com/wp-content/uploads/2010/12/min-uk-children-may-get-22bn-of-gifts.jpg" alt="Parents could spend 2.2 billion pounds on Christmas presents for their children"/></a></p>
<p>Parents could spend £2.2 billion on Christmas presents for their children despite the economic gloom, a poll has suggested.</p>
<p>Mums and dads plan to shell out on average £168 on gifts per offspring, according to the Cost of a Child survey by insurance, investment and retirement group LV=.</p>
<p>It found that around half (53%) of parents will spend the same or more on their children than they did last year.</p>
<p>A quarter (27%) are feeling under more financial pressure than they did last year, possibly reflecting the increased spend by many parents.</p>
<p>The poll of 546 parents with children under 18 found two thirds (62%) plan to spend less on other family members this year, to help balance their budgets.</p>
<p>Toddlers under four will typically have £124 spent on them and the average child aged 11 to 18 will receive £201-worth of gifts.</p>
<p>The survey findings suggest parents in the North East are the most generous, spending an average £226 on presents, £58 more than the national average. Those in the East Midlands will spend £151 per child.</p>
<p>Parents in London intend to splash out an average of £162 on their sons and daughters.</p>
<p>However, a third (36%) said they will need to cut back on what they spend on presents for their children. One in 10 (9%) said they had told their children not to expect as much this year to avoid tears on Christmas morning.</p>
<p>Mark Jones, LV= head of protection, said: &#8220;Despite the economic downturn parents are still keen to make Christmas one to remember this year. It&#8217;s important that people try and look beyond the short term and also ensure that they have suitable budgets and long-term financial plans in place.&#8221;</p>
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