Childhood Poverty Costs NSW $60B Annually
Here’s How It Impacts the Future…
The NSW Council of Social Service has released new research that shows child poverty costs the NSW economy $60 billion a year. This includes increased costs in areas such as healthcare, the legal system, and homelessness services, as well as the cost of lower workforce productivity. This report is the first time in Australia that the economic costs of child poverty have been systematically quantified.
Almost one in six children live below the poverty line in NSW with that number worsening to almost one in four in areas such as Sydney’s western and south-western suburbs.
NCOSS CEO Cara Varian said: “Child poverty hurts us all - it robs children of their future and steals $60 billion from the NSW economy every year,” she said.
“Children from households living in poverty are three times more likely to also experience poverty in adulthood. We are setting up a cycle of disadvantage.
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