Childcare costs on the rise

For a family with two children in full-time childcare the costs can average at £16,432 per year. The charity says these figures paint a gloomy picture for families who are already finding it difficult to make ends meet. This has been revealed with the launch of the 2013 Childcare Cost Survey Report by the charity.

Almost 4,500 parents completed the survey. Employers For Childcare says that it is “truly concerned” by some of the responses with many parents reporting that they are really struggling financially.

Many use credit cards at the end of each month for essential commodities because childcare has already consumed a large proportion of their income. One parent is quoted as saying; “I am always overdrawn at the end of a month. I sometimes have to use credit cards for food bills.”

Marie Marin, Chief Executive Officer, Employers For Childcare Charitable Groupsaid: “The high cost of childcare can be crippling for families. In order to manage parents are making financial sacrifices and changing their employment patterns. Parents have noted that making these changes can have negative outcomes.”