The UK did better than many other rich countries in reducing child poverty and deprivation during the early years of the financial crisis. But the current government's policies to reduce spending will reverse this, and more children will grow up in poverty.
This is according to UNICEF Report Card 10, Measuring child poverty. It's the latest report in the series that in 2007 caused so much soul searching when the UK was ranked bottom for child well-being out of 24 countries.
It looks at how rich countries are tackling child poverty using the measure based on household income, but also through a new 'deprivation index'. This reflects what wealthy societies think are the basics that a child needs, and includes things like having an internet connection at home, three meals a day and space to do homework.
The report challenges Britain not to harm children when trying to cut the financial deficit.
"There is only one chance at childhood", said David Bull, Executive Director of UNICEF UK.
"We cannot see a generation, growing up in austerity, denied the chance to fulfil their potential."
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