Eight in ten Brits plan to slash their Christmas spending because of soaring bills

EIGHT in ten Brits plan to slash their festive spending because of soaring bills, a poll reveals.

More than half will buy fewer presents than normal this year — with luxury purchases in the firing line.

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Four in ten expect to eat a smaller Christmas dinner, and half will drink less booze.

A third will switch to discount supermarkets to curb spending.

Even so, 43 per cent will be “too concerned” about the cost of living crisis to fully enjoy Christmas.

More than half fear having a cold home despite the £2,500 cap on energy bills, insights agency QuMind found.

Boss Mark Ursell said: “These sobering consumer insights highlight just how much pressure families are under.”

A separate study revealed that almost half of Brits are shunning designer brands to save money.

Many are opting for low-cost alternatives, with a quarter buying more from charity shops than in 2017.

Three in ten do more running repairs on clothes than then, the Dylon Dyes poll found.