Families with children will be most affected by falling incomes, study finds

Topic Selected: Families and Parenting

General Article icon Type: General Article
  • Grim predictions for UK family finances up to 2015 revealed in new evidence produced by the Institute for Fiscal Studies (IFS) for the Family and Childcare Trust.
  • The median income among families with children is projected to fall between 2010 and 2015 by 4.2 per cent. For a couple with two children this equates to £1,250 less a year by 2015.
  • Families with children aged under five, families with more than two children and lone parent families not in paid work bear the biggest financial pain in years ahead.

An IFS report, commissioned by the Family and Childcare Trust, is the first to reveal the prospects for poverty rates and income for different family types up to the year 2015.

 

The study has found

The median (middle) household with children faces an average drop in income of 4.2 per cent by 2015–16, equivalent to an annual income drop of £1,250 for a couple with two children. The 4.2 per

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