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Children 'worth £5bn to economy' | Children 'worth £5bn to economy' |
(about 7 hours later) | |
Spending by children in the UK has hit record levels despite a fall in parents' disposable incomes, research has suggested. | Spending by children in the UK has hit record levels despite a fall in parents' disposable incomes, research has suggested. |
The London School of Economics said spending by young people was now worth £4.89bn to the British economy. | The London School of Economics said spending by young people was now worth £4.89bn to the British economy. |
In 1987, the average child received £1.18 per week. By 2009, that had increased by more than 500% to £6.84. | In 1987, the average child received £1.18 per week. By 2009, that had increased by more than 500% to £6.84. |
However, some things do not change - children still spend most of their money on sweets and confectionery. | |
Girls spend twice as much as boys on clothes and shoes, the study found, while boys spend more on technology and computer games. | Girls spend twice as much as boys on clothes and shoes, the study found, while boys spend more on technology and computer games. |
The report says the average child spends more than £6,000 between the ages of seven and 15. | The report says the average child spends more than £6,000 between the ages of seven and 15. |
That averages out at more than £10 a week for seven-to-10 year olds and more than £15 a week for 11-to-15 year olds. | That averages out at more than £10 a week for seven-to-10 year olds and more than £15 a week for 11-to-15 year olds. |
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