Children's pocket money falls 17p

Children in London are the best off

Average pocket money levels for children have fallen by 17p in the past year, research has suggested.

The average weekly allowance for children aged seven to 16 is now £8.20, the survey for Halifax revealed.

Girls are better off than boys, getting around £8.66 a week - 6% more than they got last year, and 12% more than the £7.72 the average boy receives.

Seven out of 10 children receive pocket money, with London children given the most - an average £11.71 a week.

They are followed by those in the South West at £7.50 - 35% more than they got last year.

The survey questioned 1,166 children aged between seven and 16.

It found children in Wales receive the least at £6.30 a week, less than half the £13.51 they received last year, while those in Northern Ireland are not much better off at £6.45, and those in the East of England get just £6.64.

It appears that all children are still getting a good deal when it comes to pocket money levels Peter Jackson, Halifax

Young people in the North East and the North West also saw their pocket money levels fall by 35% during the year, to £8.29 and £7.25 respectively.

Children in the East Midlands are least likely to receive pocket money, with only 54% getting cash on a regular basis, while those in Scotland do not fair much better at 55%.

Six out of 10 children have to earn their pocket money by doing jobs around the home such as tidying their bedroom, cleaning the house or doing the washing up.

Peter Jackson, head of savings at Halifax, said: "Children in London may be this year's pocket money winners, but it appears that all children are still getting a good deal when it comes to pocket money levels.

"Although almost two thirds of children do chores to earn their pocket money, as parents try to teach them the value of money, children should be extremely pleased with the pocket money levels that they receive."