An analysis by the FPI, Families in an age of austerity, found that families with newborns will lose millions of pounds a year through the loss of the Child Trust Fund, the axing of the Health in Pregnancy Grant, cuts to the Sure Start Maternity Grant, and the abolition of the baby element of Child Tax Credits.
The FPI estimates this equates to a total loss of £775.3m to the 790,000 babies born each year.
These families will also be hit by the three-year freeze on child benefit. Parents in part-time jobs will also lose out if they cannot find extra work to increase the number of hours they work from 16 to 24 a week in order to qualify for Working Tax Credits.
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