The latest poverty statistics show that in 2023/24 there were a record 4.5 million children in relative poverty (after housing costs), a rise from 4.3 million in 2022/23. This is 31 per cent of children.
On Thursday 21 March, the annual Households Below Average Income (HBAI) report will be released by the Department for Work and Pensions. Estimates are provided for average incomes, income inequality, and for the number and percentage of people living in poverty. The statistics are the UK’s official source of poverty estimates and, with a larger sample size than other surveys, are the main source of data on household and individual incomes.
Our pre-Budget briefing details how best to invest financial support in children to reduce child poverty and give every child the chance to fulfil their potential.
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.
This briefing summaries the findings of two papers from the Benefit Changes and Larger Families research study which explore whether the two-child limit has affected families’ decisions about how many children to have.
Secure Futures for Children and Families will ask the question: What does a social security system that provides a secure future for children and families look like? This launch paper sets out where the social security system is now and what needs to change.
