Across the UK, it is estimated that it costs about £150,000 to cover the minimum cost of a child between birth and the age of 18. In London, parents face even greater costs. In particular, childcare costs are on average over a quarter higher than in Britain as a whole, and housing is far more expensive than the equivalent elsewhere, whether purchasing a home, renting privately or even paying a social rent.
This report draws on evidence from studies of minimum household costs in London to comment on the size of differences in children’s costs in various categories. This analysis builds on new research on a ‘Minimum Income Standard for London’.