The overall cost of a child up to age 18 (including rent and childcare) is £185,000 for lone parents (up 19% since 2012) and £151,000 for couples (up 5.5% since 2012).
This is according to the September 2019 report (pdf) from Child Poverty Action Group which gives us an update of the calculation of the cost of a child for 2019.
The report finds:
- Childcare costs, for those requiring childcare, now comprise nearly half of all the costs of a child
- Even lone parents working full time on median earnings can’t reach a decent minimum living standard, falling £60 a week short: for them the shortfall has risen to 16% from 6% in 2012
- With no increase in cash terms in child benefit since 2015 (but a return of inflation since 2016), child benefit now covers less than a sixth of the cost of a child for a lone parent and barely a fifth for a couple.
