Tightening budgets mean one in five Scots will be forced to borrow money from relatives when purchasing Christmas presents this year, according to a new report.

Research from Scottish Widows' Centre for the Modern Family revealed 48 per cent of people will receive some kind of financial assistance from their families during the festive season.

Centre for the Modern Family panellist and head of Which? Money James Daley said: "We know that Christmas is a difficult time, with pressures on the family purse strings colliding with winter fuel bills, the cost of entertaining and what can seem like a long wait between paydays."

However, despite financial restraints, it seems many Scots are keen to share the festive season with others, with ten per cent planning on hosting a celebratory party.

When it comes to Christmas traditions, 84 per cent expect to open presents, while 44 per cent intend to watch Christmas TV specials and 25 per cent tune in for the Queen's speech.