A new study has revealed that more than half of Brits not holidaying this year say they can’t afford to book a trip.

The research conducted by Bacs Payments Schemes Limited, the organisation behind Direct Debit in the UK, found that these consumers would be more likely to spend if they were offered flexible payment options.

Bacs’ Graham Callaghan said: “The research shows that one in three of us won’t be taking a holiday this year and, while there are a range of reasons for this, well over half admit that affordability is the main issue, with a number still uncertain about the immediate financial outlook.

“Against that backdrop it is perhaps no surprise that so many of those surveyed think that paying by Direct Debit would not only make the cost of a holiday more manageable, but would consider paying this way if it was an option.

“It’s clear from this that holidaymakers want flexibility over the way they pay for their break and, just as millions of us pay our bills by Direct Debit, we also want this option when it comes to booking a break.”

Research was part of Bacs’ Family Finance Tracker, which analyses the spending habits of British adults.