We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Report reveals childcare fees have 'risen faster than wages'

04 Sep 2018

According to a report published by the Trades Union Congress (TUC), childcare fees have risen by 52% since 2008, while wages have risen by just 17%.

The TUC described the situation as being ‘even worse’ for lone parents, and stated that childcare costs for single parents working full-time have risen ‘seven times faster’ than earnings.

In England, average childcare fees have risen from £159 per week in 2008 to £236 per week in 2018 for a child aged under two; and from £149 per week in 2008 to £232 a week in 2018 for a child aged over two.

Despite government support, including free nursery hours for some working parents and the introduction of the Tax-Free Childcare (TFC) initiative, many families in the UK are ‘still being left with huge childcare bills’, according to the TUC.

It has urged the government to supply additional support, including subsidised, affordable childcare ‘as soon as maternity leave finishes’, and more government funding to enable local authorities to provide nurseries and childcare.

TUC General Secretary, Frances O’Grady, said: ‘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.’

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.