A new survey has revealed that parents from some of the UK’s poorest families may be facing severe debt problems in order to afford rising childcare costs.
The survey, conducted by Save the Children and the Daycare Trust, involved questioning a total of 4,359 parents on childcare costs and general household finances.
The findings revealed that nearly a quarter of parents admitted that the cost of childcare has landed them with debt problems. Other results from the survey showed that 58 per cent of parents questioned had cut their spending on essentials such as heating, clothing and other bills. Meanwhile, four out of ten parents said that they spent nearly as much on childcare as they did on their rent or mortgage.
The survey focused on the differences in spending and debt problems between poorer families and those earning more than £30,000. Of those included in the survey, around 250 brought in an income of £12,000 or less a year. It was found that:
58 per cent of poorer families believed they were no better off working and paying for childcare, compared to 19 per cent on higher income families who shared this view.47 per cent had made cutbacks to the amount of after-school activities their children participated in, compared to 22 per cent of higher income households.61 per cent of low-income families admitted they were struggling to afford childcare. Just 37 per cent of higher earners also admitted this.Kate Groucutt, from the Daycare Trust, said:
“Our research shows that childcare costs have risen every year for the last 10 years.
“This, combined with the recent cuts to the childcare element of working tax credits, means that the financial burden on parents is greater than ever.”
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