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Bank charges: Summer holidays cost parents £8.6 billion

Parents across Britain could soon be facing bank charges thanks to the summer holidays.

That is according to research from protection specialist LV=, which indicates that the typical child costs £660 to keep at home during the summer holidays.

Across the nation, this adds up to an eye-watering bill of £8.6 billion.

What's more, a third (38 per cent) of mums and dads say the costs of looking after their children during the school holidays are unaffordable.

"Understandably, many parents will be worried about how they can afford to meet the costs of childcare and keeping the kids entertained over the summer holiday period," said Mark Jones, head of protection at the company.

"It would seem that for many, sun, sea and sand on a holiday abroad is not on the cards this year, and instead it's the local park, pool and Peppa Pig on DVD."

The research indicated that 55 per cent of all families do not intend to travel abroad this year, while a third (29 per cent) will not have a UK-based holiday either. ADNFCR-2776-ID-800632078-ADNFCR

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