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The poorest start to life in 60 years face children born now.
Resolution Foundation figures show that children born today are the joint most likely generation to be facing poverty at the start of their lives. Pension poverty rates are two thirds down from their peak in 1980 for people entering retirement.
The risk of poverty is higher in early childhood or late retirement but those risks have fluctuated over time. According to Fahmida Rahman from the Resolution Foundation. She said policymakers must reverse benefit policies that are now increasing the risks and depths of child poverty for the newest generation. Attention to supporting young families must be made by policyholders.
Poverty was examined in those having household incomes below 60% of the average. According to a report, major progress has been made in pensioner poverty. The poverty rate for the baby boomer generation now entering retirement has fallen to 15%. But those in this generation who live in the private rented sector are still facing higher rates of poverty at 35%.
Child poverty has been rising over the past decade compared with predecessors. Improvements were seen in the mid-1990s and early 2000 claim the Foundation who aims to improve living standards for people on low incomes.
It means that those born between 2016 and 2020 will face the joint highest rate of early years of poverty in 60 years. And more than 35% are expected to be living in poverty at the age of two.
Anna Feuchtwang coalition chairwoman said In many areas growing up in poverty is not the exception it is the rule, and with more children expected to get swept up in child poverty in the coming years with serious consequences for their chances in life. Policymakers can not deny the depth of the problem. The government must respond with a credible child poverty policy.
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