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Will Christmas be jolly for the kids of the UK?

Despite trouble on the high street and trouble in the UK employment market the signs only a few days ago appeared to show that spending on Christmas would actually maintain last year's level or slightly increase. However, as we approach perhaps the most important sales weekend of the year there are suggestions that children this year will receive less presents and have less money spent on them than 2007.

However, it must be said that despite the serious economic downturn the amount of money being spent for Christmas is remarkable when considered in the context of the UK employment market. Many people seem to be willing to chance their last few pounds on Christmas and worry about next year when it comes. However, many people may find they have seriously underestimated their debts and more people than ever before will struggle with their mortgages and loan repayments.

Christmas has always been a very important part of the UK social calendar and this year seems to be no different. The high-street retailers are doing their best to pull in new customers with 20% discounts as well as a number of serious bargains to be had in the Woolworths closure sale. The bargains are there for consumers but the jury is currently out with regards to consumer spending power.

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