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Families with children see their finances hit hardest by pandemic

21 May 2021

Four million children are living in a family which has lost income since the start of the pandemic, with 1.6 million of these in a family that’s lost a third or more of earnings.

A report from Standard Life Foundation, with analysis by the University of Bristol, also revealed that three million children in the UK now live in a family that is struggling to buy food and other essentials.

Another crucial finding was that more than a quarter of UK families with children are living on a reduced income as a direct result of pandemic-related loss of earnings. This is compared to 17% of households without children.

In fact on almost all indicators of financial hardship, the rate was doubled for families with children – compared with households without children.  

Action for Children’s director of policy and campaigns, Imran Hussain, said: ‘Serious action is urgently needed if we are to prevent a generation of children from being scarred by poverty and the pandemic.’

Mubin Haq, CEO of Standard Life Foundation added that while ‘much support has been provided by the UK government, there has been a blinkered approach to children’, and that ‘we also need to see significant increases in child benefits, mirroring the approach in Scotland’.

The findings were based on the responses of 6071 people.

Image Credit | iStock

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