Childcare costs rise 6pc in 3 Months
The cost of childcare is on the rise, and has gone up by 6pc in the last three months alone, according to childcare website Findababysitter.com.
The report revealed that of those parents who are currently unemployed, 25pc wished to return to work but couldn’t afford to have their children cared for. As well as this 55pc mentioned that they thought the government was not doing enough to provide them with the help they need financially when it comes to childcare.
Founder of Findababysitter.com, Tom Harrow said: “When I pick up the newspaper in the morning and I see headlines such as ‘Mums spend at least 14 weeks of their annual salary on childcare’ I wonder what the government are playing at”.
The report questioned a total of 1001 parents and the findings show that London has the highest rate of parents, some 40pc, who feel they would like to go back to work but cannot afford to.
The rising costs of childcare are well above the level of inflation, and subsequently well above any rise in wages, meaning that more and more parents are finding it unviable to go to work and remain at home caring for their children.
This has meant that here has been a rise of single income families, putting further pressure on personal finances, and taking more workers out of the economy.
If you have any questions about covering the costs of your childcare, or are struggling with personal finances and would like some options, simply ask one of our advisors a question in the box above.
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