"A stark picture of families being squeezed"

Business quote of the day.

"A stark picture of families being squeezed by rising prices and stagnant wages".
 
Alison Garnham, chief executive of Child Poverty Action Group, on news the cost of raising a child has risen by 4 per cent in the last year to almost £150,000.
 
The research published by Garnham’s organisation found it now costs a minimum of £148,000 to bring up a child to the age of 18 and including minimum childcare and housing.
 
"Every parent knows it's getting harder to pay for the essentials their children need, and they don't feel like politicians see them as a priority.
 
"Child benefit and child tax credit have been cut at the very time families need them most. Families are getting worse off and parents know it."

The cost of raising a child has risen by 4 per cent in the last year to almost £150,000. Photograph: Getty Images
Photo: Getty
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Cabinet audit: what does the appointment of Liam Fox as International Trade Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for International Trade.

Only Nixon, it is said, could have gone to China. Only a politician with the impeccable Commie-bashing credentials of the 37th President had the political capital necessary to strike a deal with the People’s Republic of China.

Theresa May’s great hope is that only Liam Fox, the newly-installed Secretary of State for International Trade, has the Euro-bashing credentials to break the news to the Brexiteers that a deal between a post-Leave United Kingdom and China might be somewhat harder to negotiate than Vote Leave suggested.

The biggest item on the agenda: striking a deal that allows Britain to stay in the single market. Elsewhere, Fox should use his political capital with the Conservative right to wait longer to sign deals than a Remainer would have to, to avoid the United Kingdom being caught in a series of bad deals. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.