Monday, September 03, 2018

Childcare costs

Childcare fees for working parents have risen three times faster than wages in the past decade, according to the TUC.
Costs have gone up by 52% per week since 2008 for families with a full-time and a part-time working parent, despite government initiatives. The earnings of these parents have increased by 17%. In the last year alone, childcare costs have risen by 7%.
Lone parents were faring worse, the TUC analysis found, with childcare costs for a single mother or father working full-time having risen seven times faster than earnings.
Childcare in England costs an average of £236 a week for a child under the age of two in nursery, compared with £159 in 2008. The cost is £232 a week for a child over two, compared with £149 10 years ago.
The TUC general secretary, Frances O’Grady, said: “Working parents have seen childcare fees rocket, as their wages have stagnated. Despite government support, families still face eye-watering nursery bills. Britain’s cost of living crisis is having a huge impact on working mums and dads.”
Examples of bills included £4,700 a year paid by a family on average earnings, with one parent working full-time and another part-time, for a three-year-old and a one-year-old child. A single parent on average earnings, working full-time, was paying just over £6,000 for the same coverage.

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