The cost of child poverty extends beyond the physical and emotional hardship felt by children growing up in low-income families. In 2008, the total financial cost was estimated to be at least £25 billion a year. In 2023, it has risen to over £39 billion a year.
Today we publish our third annual report ‘The Cost of a Child in 2014’, written by Donald Hirsch from the Centre for Research in Social Policy at Loughborough University and funded by JRF. It draws on the Minimum Income Standard project (MIS) to establish how much families need to cover their basic needs like food, clothes and shelter, and to participate in society.