Child benefit cuts could cost families £50,000

Press Association
Crying baby
Crying baby

Looming child benefit cuts will cost some families with three young children around £50,000 by the time their youngest child reaches adulthood, experts have warned.

Financial services firm PwC found that the long-term cost of the cuts which come into force in the new year will equate to more than a year's take home salary for many of those who stand to lose the benefit by the time their youngest child turns 18.