It has been calculated that childcare costs in the UK have risen four times faster than real wages since 2008. The average cost of a day nursery for a 2-year-old in the UK is now over £200 a week although there are regional variations.
Without affordable childcare, many parents find themselves unable to return to work, improve their finances and provide for their family. Although it is possible for them to take out personal loans with credit on demand, this solution is only feasible when there’s an urgent need of cash but doesn’t solve the underlying problem. It is, therefore, welcome news to learn that the UK government has invested £6 billion up to 2020 in providing financial support for working families with children.
Help has always been available, but the system has recently been overhauled. Since 1989, some parents have been eligible for childcare vouchers (as part of …Read more