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Child poverty is set to soar under the Conservative Party’s manifesto plans, while Labour’s £9billion of extra spending would mean 550,000 fewer children in poverty.

Scrutiny of the party plans by the Resolution Foundation found the Tories' 2019 manifesto makes no changes to existing social security policy. As a result, child poverty risks reaching a 60-year high of 34 per cent.

Labour’s £9billion worth of extra social security spending, including the scrapping of the two-child limit, would halt this rise, with 550,000 fewer children living in poverty.

But no policy would see current poverty rates fall, according to the research.

Labour’s proposals do not reverse the £5billion benefits freeze and could see more children living in poverty in 2023 than today.

The Lib Dem manifesto also plans for an extra £9billion of social security spending and would see a slightly bigger 600,000 reduction in child poverty compared to Tory plans, but would still not see child poverty rates decline.

Large families, private renters and disabled people are the main beneficiaries.

Many working-age families that fall outside these groups could still find themselves worse off under Labour compared to the UK’s pre-2015 social security system, said the foundation, due to the effects of the benefits freeze.

It estimates that working couples with children would remain worse off by £150 per year on average, and working single parents would remain £600 worse off.

The foundation notes that Labour’s proposed changes for working-age families are far smaller than changes for women affected by state pension age changes, with £58billion of retrospective payments promised.

Laura Gardiner, research director at the Resolution Foundation, said: “Policy choices since 2010 have reduced the generosity of support for working-age families by £34billion.

“Under the Conservatives, little is set to change and child poverty risks reaching a record high in the coming years. Labour and Liberal Democrat pledges would mean child poverty being over 500,000 lower than under Conservative plans.

“However, this would not do enough to see child poverty fall from today’s already high levels.”