Scottish children’s pocket money levels are only topped by children in London, who receive on average around £8.21 per week, according to the annual Halifax Pocket Money Survey.

However, latest figures shown in the annual Halifax Pocket Money Survey, outline that weekly pocket money in Scotland has decreased by an average of -2.8 per cent in the past year, falling from £7.27 in 2015 to £7.06 in 2016.

The number of children receiving pocket money within the UK has increased by 3 per cent to 81 per cent, in the last 12 months, with four out of five children being given a weekly allowance.

These figures further show that on average children in the UK receive a weekly allowance of around £6.55, an increase of almost 6 per cent on last year’s figures, not since 2007 has pocket money been higher.

Giles Martin, Head of Halifax Savings said: “It’s reassuring to see that the average weekly amount has reached a nine year high. Some parents are clearly not feeling the pinch in the same way as they have done in recent years, when weekly pocket money dipped as low as £5.89. It’s likely it’ll be a few more years until we reach the dizzy heights of £8.37 in 2005 though, when we saw the highest average pocket money since our records began.”