CHILDREN are living in fear that their families will not have enough money as the cost of living crisis deepens, a damning report has revealed.

A new report by Action for Children warns that almost a third of children are worried about their family having enough money to live comfortably as the cost-of-living crisis bites.

A YouGov poll by Action for Children surveyed three generations of over 5,000 children and adults in Britain and found that most children were concerned about their family finances while most parents and grandparents fear childhood is getting worse.

Among the children surveyed from low-income backgrounds, 47 per cent said they worry about their family’s finances while only 14 per cent of children from high-income families felt the same way.

Britain is facing the biggest income squeeze in nearly 50 years with rising fuel and food prices, and with the growing conflict in Ukraine making already rocketing living costs even worse. 

The survey also showed that nearly half of children identified the Covid-19 pandemic, too much pressure at school, and poor mental health as preventing them from fulfilling their potential.

Action for Children director of policy and campaigns Imran Hussain said: “The likely fallout of the Ukraine conflict, with even higher energy bills and inflation rates not seen for a generation, is a double blow for low-income families already locked in a crippling cost-of-living crisis.

“The government needs a clear plan to reduce child poverty and it can take immediate action to support those on the lowest incomes by making sure benefits keep pace with the soaring cost of living in the tough months ahead.”

Meanwhile, disability groups are demanding more financial support through their “living hell.” Campaigners and charities are demanding more financial support as benefits fail to keep pace with the rising cost of living.

Anastasia Berry, policy co-chairwoman of the Disability Benefits Consortium and policy manager of the MS (multiple sclerosis) Society, said yesterday: “Talking about a cost-of-living crisis while pushing through a real-terms benefits cut is like telling someone about a storm while drilling a hole in their boat.

“The government must increase benefits levels in line with inflation or disabled people’s health will suffer even more.”

Commission on Social Security co-chairwoman Ellen Morrison said: “The rising cost of fuel, heating, food, bills, National Insurance contributions and social care charging cannot be borne by those of us already living on a pittance.

“You can’t pay out more when you’ve already got nothing.”

Disability Rights UK chief Kamran Mallick said: “I wonder: has Rishi Sunak ever spent any meaningful time with people who live on tens of pounds a week?

“Have his mandarins at Whitehall done so? Because I don’t see who gets it — who truly, deeply, understands the living hell which is a life lived in poverty.”

Meanwhile, reacting to the Spring Statement on Sky News, shadow work & pensions secretary Jonathan  Ashworth said: “Rishi Sunak was acting in his own interest because he thinks by offering an income tax cut in two years that’ll help him politically with Conservative MPs if there’s a leadership contest or that’ll fit the Tory election grid.”

Mr Ashworth said Mr Sunak should have imposed a windfall tax on the profits of oil and gas companies to generate funds to help struggling households with energy bills.

He said: “He is a tax-rising Chancellor, he is Mr Tax, and it’s the British people who are paying the price.”

Education Secretary Nadhim Zahawi said: “Energy prices are volatile, inflation remains high, so it would be absolutely irresponsible to say ‘job done.’

“But I think £22 billion, in one year, of help when you’ve just spent £400 billion is the right thing to do.”