Cost of a child reaches £148,000

Meeting the minimum needs of a child up to age 18 now costs around £148,000 – equivalent to around £160 a week – according to an updated analysis published by the Child Poverty Action Group. The figure has risen by 4 per cent between 2012 and 2013.

The calculation is based on the 'minimum income standard'– the income needed in order to reach a minimum socially acceptable standard of living, based primarily on popular consensus. It is averaged for a child across all ages, and includes childcare costs and housing.