FT public policy reporter Bethan Staton on why childcare is rising fast up the agenda in Westminster and for businesses. UK parents pay more, struggle to find places for their children... and want employers and policymakers to help sort it out
If you're a parent, or know one, you'll be well aware that childcare in the UK is too expensive. According to the OECD, UK nursery fees are the second highest in the world and take up one-third of the average wage. In some areas it's even higher. In London, a full-time nursery place costs £19,000 on average, according to charity Coram.
So what can be done about the problem? Exasperated parents may be surprised to know that the government investment in childcare has actually increased in the past decade. According to the Institute for Fiscal Studies, total spending on childcare in 2010 was £2bn. Today, it's nearly £4bn. However, some experts say the real problem is how that money is spent.
Parents of two-year-olds can also qualify for free hours if they meet certain criteria. If that sounds confusing, it's because it is. Studies show that parents struggle to access support that is available. And in 2022, some £3bn of tax-free childcare went unclaimed. Faced with this shortfall nurseries depend on parents paying beyond those free hours in order to stay afloat. That means charging higher prices to richer parents or parents of younger children, for more hours or so-called extras, like nappies or lunch, to cover costs not paid for by meagre government funding. However, nurseries are still struggling to make ends meet.
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