According to research from the Child Poverty Action Group, it now costs £150,753 for a couple to raise a child up to the age of 18 and £183,335 for a lone parent.
The annual research by the charity sets out the amount families with children need to afford essentials such as food, clothes and shelter, as well as other costs necessary to participate in society, such as childcare, as perceived by members of the public.
It finds that despite the introduction of the National Living Wage, low-paid families working full-time are unable to earn enough to provide what the public defines as an acceptable, ‘no-frills’ living standard. Any gains from modest increases in wages have been clawed back through the freezing of tax credits.
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