The year 2020 has put unprecedented pressures on families bringing up children. Parents across the world have taken on new challenges due to the coronavirus pandemic in keeping their children healthy and safe as well as properly fed, educated and entertained at a time when they have been required to stay at home, and when many families’ livelihoods have been threatened. Our cost of a child report looks at what items families need to provide a minimum socially acceptable standard of living for their children in 2020.
The overall cost of a child over 18 years (including rent and childcare) is £150, 753 for a couple and £183,335 for a lone parent. But work doesn’t pay low-income families enough to meet a no-frills standard of living, new research from Child Poverty Action Group (CPAG) shows.
How much does it cost to raise a child in 2016? This annual research from CPAG and Professor Donald Hirsch, Director of the Centre for Research in Social Policy at Loughborough University, finds that parents working on the new higher minimum wage still cannot earn enough to provide an acceptable minimum standard of living for their children. Families with two parents working full time on the ‘national living wage’ are 12% short of the basic amount needed for a minimum standard of living – as defined by the public.
This report shows parents struggled more than ever to provide a decent standard of living for their families in 2013. This is the second in a series of annual reports on the cost of bringing up a child in the UK.