The budget is looming on the horizon but before it even lands it is causing fear and panic among Britons already struggling ahead of the ‘Christmas spend’.

Cabinet Meeting in Downing Street in London

𝘙𝘢𝘤𝘩𝘦𝘭𝘙𝘦𝘦𝘷𝘦𝘴 at Downing Street (Image: Getty)
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𝘙𝘢𝘤𝘩𝘦𝘭𝘙𝘦𝘦𝘷𝘦𝘴’s looming budget has already resulted in Christmas being cancelled for more than one in five UK householders, a shocking new survey reveals. Although details of the Chancellor’s fiscal plans are yet to be formally announced, fears over tax hikes and price rises have already led to 21% of Brits fearing they cannot afford to celebrate this festive season.

Almost a third of UK adults (32%) plan to buy fewer, and in some cases no, presents at all to economise – while 24% are ditching the Christmas tree and 19% the turkey – with 51% aiming to spend less this year than they did last year. The findings come from a new poll of 1,000 shoppers from BuytoGive, the UK’s online marketplace dedicated to fundraising.

 

It comes amid the most pressurised time to be a parent – with 42% of British adults claiming they feel pressure to spend more than they can afford by the idealised Yuletide show on Christmas TV ads by stores like John Lewis and M&S.

BuytoGive founder Kevin Turner said: “Many shoppers face a nightmare before Christmas but they are finding clever ways to save money and make sure that the Grinch doesn’t spoil all the fun.

“The cost of living crisis continues to bite and fears of looming tax rises in 𝘙𝘢𝘤𝘩𝘦𝘭𝘙𝘦𝘦𝘷𝘦𝘴’ Budget have caused households to look again at Christmas spending.”

BuytoGive found that 53% of households were looking at lots of ways to limit spending this Christmas. The most popular way was to set a cash limit on presents for loved ones – chosen by 47% of respondents.

More than a quarter of us claim we would ask house guests to make a contribution to Christmas costs of food and drink.

Other popular cash savers include doing home-made gifts (32%), not using wrapping paper or seeking cheaper alternatives such as old newspapers (21%), and buying second hand gifts from charity shops (40%).

Man taking medication feeling stress during christmas holiday

Christmas can be stressful already 

More than two-thirds of us (68%) will buy Secret Santa presents but 42% would like a charitable option for a Secret Santa present rather than the traditional jokey gift.

A quarter of respondents (24%) will make a charitable gift as a present this year. BuytoGive allows shoppers to shop the brands they love while supporting the causes they believe in.

It has created some gift-list inspiration and Secret Santa ideas where every purchase will include a donation to a good cause.

Turner adds: “Some people are cancelling Christmas altogether while others are scaling back to save cash.

“Sadly charitable donations will be hit this year as we all look to economise, but BuytoGive provides a great alternative where you can support your favourite charities at Christmas but get something back at the same time.

“You can do all your Christmas shopping at competitive prices while making a contribution to a good cause with each purchase.”