Credit crunched Brits cutback holiday budget

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Millions of Brits have made drastic cuts to their holiday budget this summer, new research has discovered.

Santander Cards found that a quarter of Brits taking a well-earned break in the sun this year plan to reduce holiday spending.

Eating out is the biggest target of cutbacks, with 54% of those reducing their budget planning to dine out less.

Just under half (46%) are cutting back by reducing spending money, while 40% will save money by booking cheaper accommodation.

Economic gloom is not universal, however, with a lucky 12% planning to spend more money this summer compared to last year.

Nearly half (43%) of holidaymakers are keeping their budget at the same level as last year.

One in five (20%) of those polled claimed not to budget at all on holiday.

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