FAMILIES with kids have seen their incomes fall by an average of £2,200 per year since 2010, a think tank found. An Institute for Fiscal Studies report said they were hit hardest by benefit cuts. Parents who are out of work have seen the biggest fall in their incomes, with the IFS saying they had lost £5,500 per year. Tom Waters, an associate director at the IFS, said: “There has been a steady shift over the past 14 years from cash support for families with children to in-kind support through childcare. “But the latter only off-sets a small fraction of the former. Taken together with other benefit reforms, this has led to big declines in support for the poorest households.” Among the changes affecting families with children are reductions in the level of child tax credits and the “two-child limit” that sees Universal Credit payments only made for a family’s first two children. Mubin Haq, boss of the Abrdn Financial Fairness Trust which funded the IFS study, said: “Those with the least have faced the largest cut to incomes.”

FOLK WITH LEAST HAD CUT OF £2K

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