Business and finance 19 August 2013 "A stark picture of families being squeezed" Business quote of the day. Sign UpGet the New Statesman's Morning Call email. Sign-up "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." › Partner of Guardian's Glenn Greenwald detained under anti-terror laws The cost of raising a child has risen by 4 per cent in the last year to almost £150,000. Photograph: Getty Images Subscribe For daily analysis & more political coverage from Westminster and beyond subscribe for just £1 per month!