Scots children feel pinch as parents cut pocket money

CHILDREN in Scotland are feeling the recessionary pinch as parents reduce the amount of pocket money they hand out.

The money received by the average child in Scotland aged 8 to 15 has fallen by 8 per cent – almost £30 – in just a year, new research shows.

The typical weekly pay-out is now £6.32 a week, according to the Bank of Scotland Pocket Money Survey, which said the reduction reflected increased pressure on family finances. The amount that parents pay out in pocket money has declined steadily since 2005, the bank’s survey results show.