KIDS are becoming "children for life" as many parents now subsidise them into later adulthood, according to a new survey.

A survey released today by GE Life shows how young adults are now more dependent on parents than a generation ago.

Two thirds of the over-50s questioned said they received no financial help from their parents when they were in their 20s - but 64% of them help out their adult offspring.

Half of parents have paid towards their child's first car, spending an average of £1854 - a total of more than £18billion.

More than a quarter have helped their child buy property, spending on average £5796.

And three out of 10 said they pay towards some, or all, of their children's daily living costs.

Kirsty Macpherson, GE Life spokeswoman, said: "The worry here is that parents are forking out for their children and are not putting enough money aside for their retirement."