Quarter of parents 'bribe children with pocket money to turn off screens'

Some 23% of parents of children aged eight to 15 use pocket money in this way, Halifax found.

Children receive £7.71 per week in pocket money, up from £7.01 in 2018, according to the survey.

Nearly two-thirds (60%) of parents also pay their offspring in return for chores such as tidying their bedroom, cleaning or washing up - even though more than half (53%) think their children should be doing such tasks regardless.

Three in 10 (30%) parents would be willing to withhold payment if the work was not up to scratch.

More than two-fifths (42%) of children buy sweet treats with their pocket money, 31% use it for gaming, and 30% purchase toys.

More than nine in 10 (93%) parents surveyed say they encourage their children to save their money.

Half (49%) of parents let their children download apps, or spend on music or film and TV streaming services.

Giles Martin, head of savings at Halifax, said: "The summer holidays represent great opportunity for parents to spend time with their children, get out and about as well as giving a life lesson on the value of money and earning their own cash.

"With over 70% of children still using a piggy bank to save their pennies, the summer months can be great for kids to see how much they can earn or save by the time they go back to school - and it's interesting to see so many parents try to incentivise good behaviour with pocket money too."

More than 500 parents were surveyed.