Number of children in UK living in poverty set to soar
Monday, October 17, 2011
The number of children living in poverty in the UK is set to rise dramatically by 600,000 by 2013, according to the Institute of Fiscal Studies.
The IFS predicts that 600,000 more children and 800,000 adults ofworking age will be living in poverty due to a 'large decline' in realincomes, which will see the biggest drop in household income for 35years.
It blames changes to the tax and benefits system and the fact that theGovernment now uses the lower consumer prices index, instead of thehigher retail prices index, as a measure of inflation on which to basepeople's means-tested benefits.
The figures show that the Government will miss targets set out in theChild Poverty Act.
The IFS forecasts that absolute child poverty will reach 23 per cent in2020.
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