Midlands is "child debt capital"

The Midlands had been named as the child debt capital of Britain, with the largest amount paid on average by parents to their adult children to settle bills, by one independent financial advisor.

Data from a Moneyexpert survey shows that while £2,739 is amount paid by Midlands parents, £2,450 is the average figure nationally, with money being given to kids to pay off mobile phone, credit card and car finance bills

Research revealed that 7.5 million parents have assisted their children with paying off debts, coming up with the cash to ease their burden.

Moneyexpert’s chief executive Sean Gardner said of the findings: "Whether it’s an overdue credit card bill, an unauthorised overdraft or even a missed mortgage repayment, millions of parents are forking out on behalf of their children."

"Having a child is an expensive business and unfortunately spending on your kids doesn’t stop once they reach adulthood," he concluded.

David Cameron, the leader of the Conservative Party recently blamed the government for the "huge expansion of public and private debt without showing awareness of the risks involved".