The soaring cost of childcare is resulting in more parents considering quitting work to stay at home and look after their kids.
Parents Considering Quitting Work Due To Childcare Costs
Childcare has been a concern for parents in recent years and continues to be a major squeeze on household incomes as childcare costs rise and wages either decrease or stay the same. And now Shadow Education Secretary Tristram Hunt is say that childcare costs have increased 30% since 2010.
The strain that households are feeling because of these costs have been reflected in a new survey by charity 4Children, as it revealed that a fifth of parents that are currently working are giving serious consideration to cutting back their hours or quitting work altogether to cut their childcare cost bill.
The survey polled up to 1,000 parents who had children up to the age of sixteen and discovered that not only were parents considering quitting work, but they were also planning to stop spending money elsewhere in a bid to meet the childcare costs.
4Children chief executive Anne Longfield has come out in support of working parents and has called on politicians to do more to ease the pressure of family finances. She said: "Childcare represents a huge financial challenge for most parents, and our poll shows the real impact costs are having on family life - from giving up work to cutting back on essentials," says 4Children chief executive Anne Longfield.
"Removing parents' choice as to whether or not they continue to work after having children is not the answer for families or for the economy. Parents of the youngest children are feeling the pressures most acutely and are calling on politicians to do more to help, particularly with the cost of childcare."
The UK has some of the highest childcare costs in Europe and the government has tried to help lessen the burden in recent years by providing up to fifteen free childcare hours for three and four years olds in a household where both parents are working.
However, that aid is going little to help those families who are still having their finances squeezed by childcare costs, and Mr Hunt is calling on David Cameron and the government to do more to help and support to working families who are finding it hard to meet these soaring costs.
Speaking to the Daily Mirror, Mr Hunt raised his concerns as well has hinted at what a Labour government would do should they win the general election. He said: "Under David Cameron, childcare costs have rocketed by 30% since 2010. Wages are down by £1,600 and the availability of childcare has plummeted.
"Labour's plan for childcare will make work pay and boost the economy. We will increase free childcare for working parents with three and four-year-olds from 15 to 25 hours, making a real difference to hard-pressed parents. Our legal guarantee of a childcare place for parents of primary school children will also help mums and dads balance work and family life."
Childcare looks set to be another key area for Labour going into this spring's general election as it is putting the needs of working class people at the heart of its campaign, along with the NHS. However, the government have hit back saying that they are going more than any other government to help tackle the rising cost of childcare.
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