Half of parents with young children are struggling to make ends meet as a result of the coronavirus pandemic, with almost as many saying they have nearly run out of money, according to a survey.
Parents are twice as likely as those without children to say they will struggle to make ends meet in the next three months, with 51% of parents of under-11s and 56% of single parents agreeing, compared with 27% of those who are not parents of young children, according to the research.
Nearly half (43%) of parents of young children said their household had nearly run out of money compared with 18% of other respondents.
Income subsidies
Direct cash grants for self-employed people, worth 80% of average profits, up to £2,500 a month. There are similar wage subsidies for employees.
Loan guarantees for business
Government to back £330bn of loans to support businesses through a Bank of England scheme for big firms. There are loans of up to £5m with no interest for six months for smaller companies.
Business rates
Taxes levied on commercial premises will be abolished this year for all retailers, leisure outlets and hospitality sector firms.
Cash grants
Britain’s smallest 700,000 businesses eligible for cash grants of £10,000. Small retailers, leisure and hospitality firms can get bigger grants of £25,000.
Benefits
Government to increase value of universal credit and tax credits by £1,000 a year, as well as widening eligibility for these benefits.
Sick pay
Statutory sick pay to be made available from day one, rather than day four, of absence from work, although ministers have been criticised for not increasing the level of sick pay above £94.25 a week. Small firms can claim for state refunds on sick pay bills.
Other
Local authorities to get a £500m hardship fund to provide people with council tax payment relief.
Mortgage and rental holidays available for up to three months.
The ability to pay rent or a mortgage is also a source of huge concern, with half of parents of young children saying they are worried about their ability to pay, compared with 20% of other respondents, according to the survey carried out by the Fawcett Society, the Women’s Budget Group, the Mile End Institute at Queen Mary University of London and the London School of Economics.
Dr Clare Wenham, at the London School of Economics, said parents were desperately worried about debt, and called for an increase in child benefit as the survey found 57% of parents would face higher levels of debt after the crisis.
“We also need to acknowledge the mental toll financial worries have on parents, on top of everything else these parents are doing – home schooling, increased domestic chores, as well as trying to keep up with their own paid work,” she said.
The study, based on a sample size of 1,783 weighted to the profile of all adults in the UK aged over 18, found 60% of key workers questioned were women, who were also more likely to say they were working harder than before, twice as likely as men to say they felt under pressure from their employer to continue going out to work and more likely to say they could not afford to stay at home.
Women were also more likely to feel anxious, with 56% of female key workers reporting high anxiety levels, compared with 30% of men in that group, according to the Survation survey. It found that among general workers 46% of mothers of younger children report anxiety compared with 36% of men, and 24% of men who are not parents of young children.
The survey found that the crisis has also hit happiness hard – while 34% of men and 37% of women usually report high ratings of happiness, just 15% of men and 11% of women now report feeling happy.
“Covid-19 has magnified existing inequalities,” said Mary-Ann Stephenson, the director of the Women’s Budget Group. “Before this crisis women were more likely to be low paid, more likely to be poor and more likely to get into debt to buy basic necessities. Many of the workers on which we now depend are low paid, on insecure contracts and only entitled to statutory sick pay.”
The Fawcett Society chief executive, Sam Smethers, called on the government to provide more financial support. “A significant increase in child benefit of £50 per week per child and setting pay for all key workers at real living wage levels would make a real difference. Government could do this now,” she said.
