Children 'worth £5bn to economy'

British children still spend most of their money on sweets

Spending by children in the UK has hit record levels despite a fall in parents' disposable incomes, research has suggested.

The London School of Economics said spending by young people was now worth £4.89bn to the British economy.

In 1987, the average child received £1.18 per week. By 2009, that had increased by more than 500% to £6.84.

However, some things do not change - children still spend most of their money on sweets and confectionery.

Girls spend twice as much as boys on clothes and shoes, the study found, while boys spend more on technology and computer games.

The report says the average child spends more than £6,000 between the ages of seven and 15.

That averages out at more than £10 a week for seven-to-10 year olds and more than £15 a week for 11-to-15 year olds.