According to an new report by David Hirsch of Loughborough University’s Centre for Social Policy, the estimated minimum cost of child poverty in the UK today stands at £29bn £4bn higher than in 2008 when the last calculations were carried out.

 

These costs are set to rise – the Joseph Rowntree Foundation predicts that the number of children living in poverty will increase to 3.4m by 2020, a rise of 700,000.  This could cost the UK an estimated £35bn in today’s terms unless action is taken to reverse the upward trend.

 

As a consequence of child poverty it is estimated that in 2013:

 

  • £15bn will be spent on extra services
  • £2.4bn will be spent on benefits for adults who grew up in poverty
  • £3.5bn will be lost from potential tax receipts from adults who grew up in poverty
  • £8.5bn of potential post-tax income for adults who have grown up in poverty will be lost.

 

The report ends by stating that: “The prospect of facing this colossal bill for allowing child poverty to return to around its high point last seen in the late 1990s is a powerful incentive to devote resources instead to fulfilling the commitment, enshrined in the Child Poverty Act 2010, of its eradication.”

 

Source:  Child Poverty Action Group

 

Tags: Early years, Policy, Poverty


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