LONDON children – spoilt brats in the pocket money stakes compared to kids in the rest of the UK – have seen their weekly pay cut, thanks to the recession.
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A quarter of parents have slashed the pocket money of their offspring in the last two years as unemployment and pay freezes bite, according to a new survey from Tesco bank.
Despite the downturn, London children still pull in &7.80; a week, against a national average of £6.22.
The report says that about two-thirds of kids have to do a chore for their cash, usually tidying their rooms. If we assume – generously – that a bit of room-tidying takes an hour, that puts London kids on way over the National Minimum Wage, which is set at £5.80.
Before they get too smug about their easy path to riches, children need to know that even London is way behind the international pace-setters for pocket money: according to an earlier survey, teenagers in Dubai are handed an average of £90 every week.