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Raising a child 'costs £222,000'

Parents are paying nearly two thirds more than they were a decade ago to raise their children. The cost has risen to £222,000 to raise a child until the age of 21, according to a survey for insurer LV=.

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Parents under pressure to keep up with technological trends

The cost of childcare has risen by £4,000 since last year, according to a survey, parents have admitted to feeling under pressure to keep up with technological trends.

The average yearly amount a parent spends on a gadget is £302 Credit: Nick Ansell/PA Wire

The average yearly amount a parent spends on an electronic gadget, such as a laptop or tablet is more than £300.

More than a quarter of parents had bought their child an electronic gadget in the past 12 months.

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