One-third of U.K. kids live in poverty — and Brexit will make things worse

The U.K. boasts the world’s fifth-largest economy, but almost one-in-three of the country’s children are growing up in poverty, according to the independent Social Metrics Commission.

And things are getting worse. The Institute for Fiscal Studies believes that child poverty could reach almost 37 percent by 2022.

Such warnings come as Britain’s prepares to leave the European Union on March 29, which the Bank of England has said could shrink the economy by as much as 8 percent in about a year.

Brexit means the U.K. will also lose billions in E.U. funding, which has greatly benefited the country’s most deprived areas.

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