Today’s official poverty statistics show child poverty has reached a record high with an estimated 100,000 more children pulled into poverty last year.
On Thursday 21 March, the annual Households Below Average Income (HBAI) report will be released by the Department for Work and Pensions. Estimates are provided for average incomes, income inequality, and for the number and percentage of people living in poverty. The statistics are the UK’s official source of poverty estimates and, with a larger sample size than other surveys, are the main source of data on household and individual incomes.
Our pre-Budget briefing details how best to invest financial support in children to reduce child poverty and give every child the chance to fulfil their potential.
This briefing draws on our research with schools and families in London and makes suggestions for how schools can remove some of the barriers faced by secondary pupils in receipt of free shcool meals, and those in low-income families who do not currently qualify.
Parents typically need to find at least £39 per week for a child’s secondary school education and £19 for a primary-aged child, research for Child Poverty Action Group (CPAG) finds.
Researchers have found that going to school in the UK costs families of primary school children at least £864.87 a year, or £18.69 a week. This is before childcare costs are accounted for. For families of secondary school children, the cost of sending a child to school is at least £1,755.97 a year.
Today’s annual poverty statistics show an estimated 350,000 more children were pulled into poverty last year, largely because the Government cut the £20 universal credit (UC) uplift half-way through the year. New CPAG analysis shows child poverty costs the country £39.5 billion a year.
The cost of child poverty extends beyond the physical and emotional hardship felt by children growing up in low-income families. In 2008, the total financial cost was estimated to be at least £25 billion a year. In 2023, it has risen to over £39 billion a year.