47% of parents think Brexit will leave children worse off, report finds

Almost half of parents think Brexit will leave their children worse off as a "general sense of anxiousness" is felt among UK families, a new report has revealed.

Days before the expected triggering of Article 50, figures released by comparethemarket.com and YouGov show that just under one in three parents believe Britain's exit from the EU will benefit their children, compared to 47% of parents who think their children will be disadvantaged.

The survey, which aired parents' concerns and hopes about Brexit, found that 27% felt "not very confident" about the future of the UK economy, compared to 24% who said they were "fairly confident" and just 7% who felt "very confident".

Out of 1,130 parents surveyed, just over two-thirds anticipated that they will need to provide more financial support for their offspring than they received from their own parents, as a rising cost of living dominated the concerns of 77% of respondents.

Simon McCulloch, director at comparethemarket.com, said: "What's becoming clear is that while parents across the UK vary in opinion, there is still a strong sense of ambiguity around the impact of Brexit on future generations which, in turn, is generating a general sense of anxiousness amongst UK families.

"In fact, we found that over two-thirds of parents from across the country feel that we are living in a period of economic uncertainty. What we can be certain about however is that, given this sentiment, it's likely that many parents will be watching their wallets even more closely over the coming months."

The survey also found that one-fifth of young parents aged 18-34 were unsure of what a post-Brexit Britain could mean for their children, while 19% believed there would be "more opportunity for employment".

Overall, parents were found to be "largely pessimistic" about their children's financial future, alongside a rising cost of holidays and concerns about heftier shopping bills if the cost of imported food goes up. Almost 40% of parents anticipate difficulties in travelling or working within the EU.

According to the survey, almost two-thirds of parents believe healthcare should top the Government agenda while Brexit and the cost of living should be prioritised over education.

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