A majority of Britons are scaling back their Christmas gift purchases this year, according to new polling data from Savanta.
The survey, which questioned 2,138 adults online from December 12 to 15, found that 51 per cent are buying fewer presents for loved ones as household goods prices continue to climb.
The financial squeeze is also affecting festive gatherings, with 37 per cent of respondents indicating they will welcome fewer guests – or none at all – on Christmas Day.
Nearly half of those polled, some 45 per cent, said they intend to remain at home rather than travel to see relatives or friends, citing cost savings as the primary motivation.
The survey found that 51 per cent are buying fewer presents for loved ones
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The Liberal Democrats, who commissioned the research, have described the situation as a “cost-of-giving crisis” driven by persistently rising prices.
Daisy Cooper, the party’s Treasury spokesperson, said: “It’s depressing to think that this time of Christmas cheer will be dampened for huge numbers of Brits.
“This Government is allowing a cost-of-giving crisis to grip our country and refusing to take action to fix it.”
She added that the pressure on household budgets would leave many people isolated during the festive period.
Daisy Cooper has described the situation as a ‘cost-of-giving crisis’
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The party has urged the Prime Minister to adopt its proposals for reducing energy bills by £270 and cutting VAT for high street hospitality businesses.
Beyond gift-giving, the polling reveals broader cutbacks to seasonal socialising.
Some 45 per cent of respondents plan to reduce their visits to pubs and restaurants over the Christmas period.
Meanwhile, more than half of those surveyed, 55 per cent, are opting for budget supermarkets in an effort to stretch their festive spending further.
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The polling also revealed broader cutbacks to seasonal socialising
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Labour has insisted that workers are, on average, around £500 a year better off since the party entered government, pointing to the latest earnings figures.
The claim is based on Office for National Statistics data comparing median weekly pay in June 2024, the final full month under the Conservatives, with figures from October 2025.
According to the data, typical annual earnings rose from £35,965 to £38,404 over the period
Labour has argued that, once inflation is accounted for, this leaves workers roughly £516 better off on average.
Downing Street chief of staff Morgan McSweeney is said to have told political aides that 2026 must become a “year of proof” for Labour, according to The Times.
James Murray, chief secretary to the Treasury, commented on the latest pay figures, saying: “Putting more money in working people’s pockets is the priority for this Labour Government.
“Fixing our economy after 14 years of Conservative chaos was always going to take time, but thanks to the choices we made at the budget, we’re bringing inflation down and, this week, we saw the sixth interest rate cut since the election, the fastest pace of cuts to rates in 17 years.
“We know there’s more to do. Next year our Government is going to be focused on delivering the fairer future we promised the British people.”