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The Bank of Mum and Dad is handing over £2,000 to help kids with the cost of living crisis. A poll of 2,000 over-50s found 22% have gifted their children a large sum of money in the past five years, according to SunLife.

32% stepped in during the financial squeeze to help cover rising bills, providing an average of £1,972. 16% helped their children clear debts – handing over an average of £2,615 to get them back on track financially.

Of the 18% who’ve helped their kids onto the property ladder, the average handout totalled over £30,000. Mark Screeton, CEO at SunLife, said: “Even in tougher economic times, parents are still doing what they can to give their children a head start.

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“For many f

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