A new report produced by CRSP for Child Poverty Action Group has found that even couple parents who are both working full-time on the national living wage can’t reach a minimum, socially acceptable living standard this year. The Cost of a Child 2022 finds that whereas last year these families could cover their minimum costs – helped by the temporary £20 universal credit uplift - this year, below-inflation uprating of benefits has left them £34 per week short of the minimum income standard. This is the biggest annual deterioration in living standards since The Cost of a Child reports began in 2012.Overall, the analysis estimates that raising a child up until their 18th birthday requires approximately £160,000 for couples and £200,000 for lone parents to allow a minimum socially acceptable standard of living.
Read the report here
The cost of a child in 2022
A new report produced by CRSP for Child Poverty Action Group has found that even couple parents who are both working full-time on the national living wage can’t reach a minimum, socially acceptable living standard this year.