Saving to cover a child’s university fees or for a deposit on a first home can be just pocket money, according to The Children’s ISA which surveyed parents and grandparents and found the average British child gets a whopping £1, 517 spent on treats each year.

Financial experts The Children’s ISA Ltd, is set to launch one of the UK’s first Junior ISA investment schemes available from November 1, but warns that parents need to do their homework now or they could end up jeopardising th

In particular both the June Budget and the autumn Spending Review outlined various cuts to the benefits and tax credits system - these changes will amount to the biggest shake-up to the welfare system in generations.

By the age of two most children can already recognise several well-known commercial logos. By five they are likely to have been exposed to their first half million marketing messages. Before their early teens they will have clear ideas about which food brands they want to eat, which clothes brands they want to wear, which mobile phone is cool. They’ll let you know, too. It’s not called pester power for nothing.