Parents set to spend £8.6 billion on their children this summer

With the school holidays imminent, the Cost of a Child report from protection specialists LV= calculates that UK parents will spend £8.6 billion over the summer break on childcare - £3.2 billion - and entertainment - £5.4 billion.

The pressure for parents is really on as family finances are squeezed harder than ever and the prospect of six weeks spending on the kids is a daunting one.