Our Cost of a Child in 2017 report calculates the cost of raising a child in the UK based on the minimum income standard (MIS). MIS is the income needed to give children an acceptable minimum living standard as defined by the public. It is calculated with reference to a basket of goods and services that the general public specifies as necessary to meet family needs. Years of austerity have reduced public expectations of what constitutes essential spending, but the report shows many families still face a big gap between what they need for a no-frills living standard and their income.
How much does it cost to raise a child in 2016? This annual research from CPAG and Professor Donald Hirsch, Director of the Centre for Research in Social Policy at Loughborough University, finds that parents working on the new higher minimum wage still cannot earn enough to provide an acceptable minimum standard of living for their children. Families with two parents working full time on the ‘national living wage’ are 12% short of the basic amount needed for a minimum standard of living – as defined by the public.
This report shows parents struggled more than ever to provide a decent standard of living for their families in 2013. This is the second in a series of annual reports on the cost of bringing up a child in the UK.
At a time when many families are finding it hard to make ends meet, how much does it cost to bring up a child to meet their needs to a decent minimum standard? This report from CPAG, funded by the Joseph Rowntree Foundation, answers that question to show for the first time in a robust way how much it costs to provide children with a minimum level of participation in society, as well as catering for their needs in terms of food, clothes and shelter.
