The minimum standard of living is getting harder to reach
The basic cost of bringing up a child is getting harder to meet. New CPAG research updating our annual 'Cost of a child' report has found that while the cost of raising a child from birth to 18 remains high, at £149,805, state support for meeting those costs is diminishing sharply.
A two-child family where both parents are working full time on the minimum wage are currently £75.75 a week short of the minimum they need a week. While the minimum wage is set to rise next year, cuts to tax credits will mean the same family are £101.80 a week short.
These calculations assume that costs will remain the same between 2015 and 2016 and are therefore for illustrative purposes only.
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