Friday, 14 October 2011
Britain is a country where many old men of tomorrow are children in poverty today
According to 'Gross Domestic Product', Britain is the fifth richest country in the world.
A report from the 'Institute for Fiscal Studies' indicates that :
* the Government shakeup of the tax and benefits system will result in a further 400,000 children falling into 'relative poverty' during this Parliament, leaving Britain on course to miss legally binding targets to reduce child poverty by 2020.
* the number of children in 'absolute poverty' in 2015 will rise by 500,000 to 3 million and by 2020, 3.3 million young people, almost one in four children, will find themselves in 'relative child poverty' which is 2 million short of the 2020 target to reduce child poverty to 10% or less of all children and represents an increase of 800,000 on the figures for 2011.
* a child is considered to be in 'relative poverty' if he or she lives in a household whose 'income is below 60% of the average in that year' and in 'absolute poverty' if he or she lives in a household whose real-terms 'income is below 60% of the 2010/11 average', a period set as a benchmark in this year's Child Poverty Act.
Alison Garnham, Chief Executive of 'Child Poverty Action Group', said: "This devastating report leaves the Government's child poverty and social mobility strategies in jeopardy."