Many Britons are giving up little luxuries throughout the year to ensure they can go on breaks such as Canal Boat Holidays.

This is according to new research from Clydesdale and Yorkshire Banks, which showed consumer spending has fallen by eight per cent when compared to a year ago.

People are still keen to holiday at home, but are making cutbacks to ensure they can make the most of their respite time.

Retail director Steve Reid commented: 'People are spending more wisely and putting more into savings so that they can enjoy worry-free quality time with friends and family and feel the positive impact of their spending.

'He added that people are still intent on engaging in the things that make the biggest difference in life, such as taking a much-needed break.

A recent study by Which? Holidays found that Blackpool is the UK's all-time favourite seaside resort.