MILLIONS of Brits will scrimp on presents this Christmas because of the crippling cost of living, a poll shows.
More than 40 per cent of adults say they will be forced to tighten their belts when shopping for festive gifts – double the number last year.
GettyMillions of Brits are scrimping on Christmas presents this year[/caption]
And a whopping one in five want Christmas to be cancelled altogether as they battle inflation hell.
The Opinium poll for the Centre for Social Justice also found 29 per cent were worried about falling into a debt spiral because of festive costs.
To cushion the blow, the think tank urges ministers to consider restoring work allowances in Universal Credit to 2016, which they say would represent a £450 boost.
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They also advocate “social tariffs” for utility bills which would cut prices for the neediest.
Tory MP Sir Iain Duncan Smith said: “Christmas may be a time for giving, but for millions of people, there’s not much to celebrate.
“While the government is to be applauded for making a number of special provisions for those with the least, these are desperate times for the most vulnerable in our society, with many of those just about managing being dragged down into problem debt.
“As the CSJ has been arguing, there is still more we can and should do, at marginal cost, to bring a bit more cheer and hope for those facing a bleak Christmas.”