A study has revealed that nearly 90 per cent of West Midlands parents are concerned for their children's future life chances.

The annual survey, conducted by the UK Committee for UNICEF (UNICEF UK), suggests that financial strain, mental health issues and the high cost of childcare are the main drivers of these concerns.

The survey reveals that 35 per cent of parents dread the upcoming holidays due to financial strain, 21 per cent have taken on debt to pay for essentials, and 85 per cent worry about their children's future prospects.

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Additionally, 63 per cent of parents believe that the cost-of-living crisis has negatively impacted their family.

About 60 per cent of parents reported struggling with their mental health since becoming parents, while 58 per cent identified childcare as one of the major challenges they face.

Joanna Rea, director of advocacy for UNICEF UK, said: "This is the moment to start making the UK one of the best places to raise a child and reverse the years of underinvestment and austerity which contributed to the UK having the highest increase in child poverty of any rich country.

"With a quarter of parents borrowing money to pay for the essentials for their children - supporting them must be an urgent national priority for the new Government."

The impact of the cost-of-living crisis seems to be hitting low-income households hardest, with 77 per cent of homes earning £19,999 or below negatively affected.

62 per cent of these homes dread the holidays due to financial strain, 39 per cent have to go into debt to make ends meet, and 75 per cent have said they struggle with their mental health.

One parent said: "Lack of new educational toys and books because they’re too expensive, no days out because it is also too expensive, can only just afford to buy second hand clothes and shoes for the children…Food choices are worse as they’re all that we can afford."

Ms Rea added: "Our findings show that families across the country are really struggling.

"The new Government must immediately prioritise support for its youngest and most vulnerable citizens."

UNICEF UK is now advocating for a 'National Baby and Toddler Guarantee', which would aim to ensure every child under five in the UK gets the support and services they need to thrive.