Almost half of British internet shoppers plan to spend less this Christmas, and are among the most likely consumers in Europe to rein in the purse-strings, a poll shows.

Some 48 per cent of UK online shoppers said they would spend “less or much less” this year compared to last, according to the survey of 3,000 people for Twenga, the shopping search engine. That made UK consumers the second most likely to cut spending this year behind Italian shoppers, 49 per cent of whom said they would cut their Christmas shopping budget.

That compares to 28 per cent of people in the Netherlands, 38 per cent in Germany, 44 per cent in Spain and 46 per cent in France.

Around 21 per cent of British internet shoppers plan to cut what they spend by more than a quarter this festive season. Only 33 per cent intend to spend the same amount, while 14 per cent plan to increase their budget.

The Bank of England is expected to reduce the base rate on Thursday, following a half percentage point cut to 4.5 per cent last month. Some analysts expect rates to fall by as much as one percentage point. However, banks are thought to be unlikey to pass on the cut and experts think it will have little impact on consumer confidence.

Howard Wheeldon, senior strategist at broker BGC, said: “It seems to me that no matter how much interest rates are pushed down, there will be no rush of UK consumers into the shops. Confidence is at an all-time low and though Oxford Street might, in a half-term week, look as if it was booming with customers, just how many of them were carrying bags?”

Although many shoppers are planning to spend less, Britons still plan to top the tables in terms of total spend. They plan to fork out an average of £356 each on Christmas shopping, 40 per cent of which they will spend online, the Twenga poll shows. Across the six European countries studied, people plan to spend an average £244. Online shopping will account for 27 per cent of this figure.

Britain’s Christmas shopping spree is expected to begin this weekend, two weeks early than usual, as the looming recession prompts people to spread the cost of the festive season. Market research analysts at Experian Footfall said the surge of shoppers began in the third week of November last year, but research agency GfKNOP found that this coming weekend would be the most popular weekend for people to begin buying Christmas food and gifts.

Some shops have launched aggressive price promotions or hired extra staff to persuade customers to part with their cash.

"Most shoppers plan to pay for Christmas out of regular income and credit cards, so they are starting early in order to spread the cost,” said Helen Roberts, a senior researcher at GfKNOP.

"People will still be buying presents, but mainly only for their nearest and dearest this year, and perhaps not getting presents for extended family or friends - and they're looking for practical presents."