Childcare shortage ‘costs £27bn a year’
Lack of affordable and accessible childcare is costing us £27billion a year, with mums missing out on £9.4billion in earnings, a study shows.
Some 1.5million mothers would work more hours if they had suitable childcare, while 470,000 have quit work entirely to look after their children, according to the Centre for Progressive Policy (CPP).
Nearly 900,000 have cut their hours and 970,000 have missed out on being promoted because of child-rearing responsibilities, the think tank said.
It welcomed a government decision in December to recognise that childcare facilities are vital infrastructure, opening the door for local councils to force homes’ developers to pay towards them.
That followed a campaign led by Labour MP Stella Creasy, who said failure to allow room for nurseries on new developments was helping to price many parents out of areas that did have them.
CPP said ministers could increase investment in childcare further by borrowing against future returns when mothers re-enter the workforce.
‘Childcare is infrastructure: it allows people to go to work, access better skills and earnings, and contribute to the economy,’ said CPP’s Rosie Fogden.
Get in touch with our news team by emailing us at webnews@metro.co.uk.
For more stories like this, check our news page.