Raising a child costs more in the UK - research
Raising a child costs more in Britain than anywhere else in Europe, according to research by an independent business consultancy.
The Centre for Economics and Business Research found that expenses, including child care, holidays and university funding, have reached an average £140,000 (€200,660) for bringing up a child in Britain, more than any other European country.
The cost for bringing up a child in a typical two-parent working household from infancy to the age of 21, amounted to £129 (€184.90) a week, or £6,686 (€9,583) a year. The total cost is more than the average price of a house in Britain.
"Few people will have realised that bringing up three children could cost nearly half a million pounds," said Malcolm Berryman, chief executive of Liverpool Victoria, the financial services company who sponsored the research.
