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The UK is one of the most expensive places in the developed world to have twins, as parents face an extra £20,000 financial hit in the year after birth compared with having two babies in succession, a study has found.
Commissioned by the Twins Trust, the charity said its Twins State of the Nation survey was one of the few pieces of work examining the “financial shock” of twins and multiple births, and how unsupported parents feel.
Parents of twins incur greater costs associated with care, food, clothing and other consumables as well as bigger items such as cots and car seats that must be purchased twice rather than being reused, as with single children born in succession.
Some 72 per cent of families surveyed said they had to buy a new car to accommodate their children. Some needed to buy a bigger house.
The additional upfront costs of having two babies at once are exacerbated by a lack of additional government support when compared with other OECD countries, the study found.
The UK’s high cost of childcare places a higher economic burden on families with twins, and maintaining employment is more challenging for parents looking after two babies simultaneously. Some 89 per cent of the 1,800 families surveyed said the current childcare provision did not meet the needs of families with twins.
As a result, these families reported an average decline in household income of 15 per cent in the year following the birth. The mental health of parents also suffers after pregnancy, with 84 per cent of families having one or more parent who experienced emotional or psychological challenges in the first year of their babies’ lives.
“This report lays bare the grim reality facing families with multiples — the financial burden, mental health toll and lack of support,” said Shauna Leven, chief executive of Twins Trust. “Raising multiples is harder in the UK than almost any other nation. With one set of multiples born every hour across the UK, it’s critical that our society steps up and provides adequate support.”
The incidence of multiple births has increased significantly during the past few decades, while stabilising in recent years; a trend attributable in part to advances in fertility treatment.
Unlike many European countries, the UK offers little by way of additional support to parents of twins or triplets. When considering additional paid parental and care leave available to mothers, the charity found the UK ranked among the lowest within the OECD.
The charity is calling for maternity pay to be per baby, rather than per pregnancy, with parents are afforded twice the support for twins, and three times the support for triplets. The report also recommends the provision of additional paid maternity leave for these parents, with an extra four weeks per child given the likelihood of a difficult pregnancy and premature birth.
“The UK’s paid parental leave system is designed with single births in mind, neglecting the compounded demands on parents of multiples, thereby failing to support families who need it the most,” said Michael D’Rosario, chief economist at think-tank Per Capita, which carried out the study after being commissioned by Twins Trust.
“The fiscal shock experienced by parents of multiples is an urgent issue that demands policy intervention to prevent financial ruin and ensure these families can thrive, not just survive.”
Are you a parent of twins? How did you cope with any additional financial challenges you faced? Please share your views in the comment section below or email the FT Money team in confidence at money@ft.com
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