Parents further from covering the cost of a child

Research conducted for Child Poverty Action Group shows that parents working full time on the national living wage only earn enough to cover 87% of the cost of raising a child to the minimum living standard, and that for a lone parent this falls to 82%. The cost of bringing up a child have risen, whilst the financial support available has failed to keep pace, with costs having risen by 12% and benefits by 3%. The research calculates that “if the benefits freeze were maintained for the next five years – currently it applies only up to 2019 – shortfalls in the extent to which benefits meet family costs would grow steadily: for example, when not working, a couple with three children of 10,12 and 14 would be £325 per week short of what they need to meet overall family costs in 2022; a lone parent with three children of the same ages, would be £241 short.”

http://www.cpag.org.uk/content/inflation-and-benefit-freeze-dragging-working-parents-further-away-being-able-meet-basic-fam