Pupils who lost half a year of schooling due to the CCP virus pandemic may lose an average of £40,000 ($54,694) in income over their lifetime, a UK think tank said. In an article published on Monday by the Institute for Fiscal Studies (IFS), research fellow at the IFS Luke Sibieta said that children in the UK will have lost around half of a normal school year by February half-term. “An extensive review of the returns to schooling finds that a year of schooling increases individuals’ earnings by 8 [percent] per year, on average,” Sibieta wrote. Based on this review, and a dutch study that suggests pupils made “little educational progress” while learning online, he calculated that a pupil who could have earned £1 million ($1.37 million) over his/her lifetime will lose £40,000 due to half a year of school closure. “This equates to an astronomical £350bn [$479 billion] in lost …