A record amount will be spent on credit cards by shoppers this xmas, it has been revealed.

Consumers are expected to shun the economic downturn in favour of festive cheer this December with record amounts set to be spent on the UK's high streets, according to a new report from Barclays.

According to the bank, £23 billion will be spent on debit cards during the month, while £17.8 billion of cash will be withdrawn from ATMs and banks.

Supermarkets are set to be the major beneficiary, pocketing a combined £5 billion in their busiest month of the year.

The extra bank holiday over the Christmas weekend is likely to see high streets and shopping centers across the UK heaving with shoppers keen to make the most of the annual sales and snap up a bargain.

Department stores will attract £650 million of debit card spending over December whilst jewelers' tills will be ringing to the tune of £210 million.

Not surprisingly with Christmas being the time to be merry, restaurants and pubs will also have their busiest time of the year, with debit cards settling £600 million of bills whilst £75 million will be spent in off-licenses.

Brian Cunnington, head of debit cards for Barclays, said Christmas is not only the season of goodwill but usually "the season for spending as well".

He added: "With so much shopping and entertaining to be done, debit cards are set to be well used throughout the month.We would remind customers to be careful to take care of their card and their PIN, especially when using their PIN in crowded places."