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Last Updated: Tuesday December 20 2005 11:35 GMT

Grandparents spend £7bn at Xmas

Christmas presents.
Grannies and grandads are splashing out a load of money on Christmas, according to a survey.

In the UK, they spend £7bn on Christmas presents - spending an average of £58 on gifts for their grandchildren.

The poll found the typical grandparent spent about £600 during the festive season, with 6.5 million grandparents cooking up the family's dinner.

A third of those questioned also said they spent money on their grandchildren when they could not really afford it.

The insurance company survey said that grandparents seemed to be really seeing Christmas as a time for giving.

Survey stats
Four out of 10 grandparents treat their grandchildren all year round
They spend around £200 per grandchild during the year
41% admit spending more on grandchildren than children
34% said they bought things for grandchildren even when they could not afford to
Average cost of grandchildren's presents is £58
But a spokesman said: "A third of grandparents confess to buying things for their grandchildren even when they can't afford to do so.

"Considering that the average weekly income of almost a third of grandparents is less than £300 a week per household, it may be that this kindness isn't sustainable."



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