Almost half of parents around the country, who won’t be able to afford the more pricy Christmas gifts, are planning to blame Santa Claus, if their children aren’t happy with the gifts they receive.

According to the parenting website, netmums.com, 44 per cent of mothers plan to dismiss children’s complaints by saying that Santa Claus had to work with a “tighter budget”.

With factors such as rising unemployment, a shortage of credit provision and other fallout from the current financial downturn parents have to deal with greater constraints on their budgets. Also personal debt levels in the country are said to be in excess of £1.4 trillion, this could lead to big budget problems for many people.

The website founder Siobhan Freegard said: "Of course we know many families are having to cut back this year, but we are urging mums not to feel guilty about this and, crucially, avoid the temptation to go into debt.

She also called on families not to let their Christmas plans push them deeper into debt by overspending.

However some parents were found to be willing to do all they can to make their Children’s Christmas a joyful time. A total of 49 per cent of parents told the website that they would do "whatever it takes" to provide a normal Christmas for their children, despite the changed economic circumstances.

She added: "Instead, why not use the credit crunch to remind ourselves that Christmas should be about magic, miracles and imagination and not about adding up the value of the contents of Santa's sack."