I had an interesting meeting I wanted to tell you about. I had the opportunity to meet with the Minister for Employment and the Secretary of State for Education at 10 Downing Street.
CPAG’s annual Cost of a Child report looks at how much it costs families to provide a minimum socially acceptable standard of living for their children. It is calculated using the Minimum Income Standard (MIS) research, carried out by the Centre for Research in Social Policy at Loughborough University for the Joseph Rowntree Foundation.
Raising a child costs £260,000 for couples, £290,000 for a lone parent. The two-child limit leaves three-child, working families with huge income gaps. The PM’s milestones must bring concrete improvements for struggling families.
CPAG’s annual Cost of a Child report looks at how much it costs families to provide a minimum socially acceptable standard of living for their children. It is calculated using the Minimum Income Standard (MIS) research, carried out by the Centre for Research in Social Policy at Loughborough University for the Joseph Rowntree Foundation.
While the additional financial support provided to households with children in Scotland is having a positive impact on family incomes compared with the UK as a whole, many are still struggling to meet a socially acceptable standard of living.
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.
Families in 2022 are facing the greatest threat to their living standards in living memory. Much has been written about these pressures, but to put them into context, we need to understand what has been happening to children’s and families’ costs in recent years. The Cost of a Child reports have been produced annually for a decade, and this 2022 edition presents the latest evidence of what families need as a minimum, and how this compares to the actual incomes of low-income families.
