An Institute for Fiscal Studies report, commissioned by the Family and Parenting Institute, reveals the impact of the deficit reduction plan on family finances.
The Impact of Austerity Measures on Households with Children study finds families with children will be worst affected by falling incomes.
Elizabeth Duff, Senior Policy Adviser for NCT, the UK's largest charity for parents, said:
“This report backs up what we hear from thousands of new parents every year. Their highest priority is to have time as a family to bond with their new baby, make sure everyone is in good health after the birth and adapt to their new roles as parents. Sadly, this is becoming impossible for many parents struggling to pay the bills as well as meeting the needs of their baby.
“Increasingly, the struggle to afford necessities like food, heating bills and essential baby equipment increases stress and puts strain on relationships. This can put pressure on new parents to look for or return to work earlier than they wanted to, encroaching on their time as a family.
“At a time when many households are on a reduced budget, NCT Nearly New Sales are more popular than ever and our branches provide opportunities for parents to support each other.”