The Daycare Trust and Save The Children recently surveyed 4,359 parents and found that 58% have been forced to cut spending on essentials such as clothing, heating and other household bills in order to meet the rising costs of childcare.
Two-thirds of parents questioned said they couldn't afford not to work, but struggled to pay childcare. Shockingly, many admitted to having had to give up work as they simply couldn't afford childcare, and said they were no better off when they were working and paying childcare.
Research by the Daycare Trust earlier this year found that 25 hours of nursery care a week in England for a child under the age of two would cost, on average, more than £5,000 a year. In Wales it was about £4,700, while in Scotland parents faced an average nursery bill of £5,178 a year.
Kate Groucutt, policy and research director at the Daycare Trust, said: "It is unacceptable that parents are being forced into debt in order to pay for childcare.
"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.
"With a quarter of parents surveyed in debt because of childcare, it is clear that, under the current system, work does not pay for many families."
Justin Forsyth, chief executive of Save the Children, said: "People are being forced into debt, they're having to pay increased amounts of money for childcare at the same time and they're really, really struggling.
"It's much better not just for the economy, but for children themselves, that their parents are working, but they're not able to work unless they get proper support."
If childcare cost is driving you into debt, then please call us now on 0800 988 7701 or complete our contact form and we'll call you back.
