New report shows rising cost of childcare

Child playing

New report shows rising cost of childcare

According to the latest industry survey, childcare costs are putting an increasing strain on family budgets. The new research shows that fees for childcare for kids younger than two has increased by one third over the course of the current government.

The report from the Family and Childcare Trust found that those parents who are entitled to Working Tax Credits have been particularly affected by the rise in costs. With the increase in the average cost of a part-time place, they will not be able to claim enough to cover the fees. Some families could be losing £52.50 per week as a result.

A part time (25 hours a week) space for a child younger than two now costs an average of £115.45 a week in a nursery setting and £104.06 with a childminder. The pace of the increases could soon take away any benefits that parents gain from the childcare voucher scheme or the childcare element of Universal Credit.

Bringing about change

Following these findings, the Family and Childcare Trust want whoever is in Government next to implement a number of changes that are designed to benefit a young child’s learning experiences and provide adequate childcare for families at an achievable level.

The measures include the provision of free childcare for every two-year-old and an extension of the facilities to 48 weeks annually for those aged two to four. These changes would help meet the needs of modern families and ensure that all children are entitled to a high standard of early learning provision.

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