Childcare costs are double the inflation rate – expert on 'postcode lottery' for parents

Childcare costs have surged in recent years according to the most recent annual childcare survey from Coram Family and Childcare Trust. This surge is not only higher than the rate of inflation, but it is also actually more than double the official rate. According to the ONS, inflation is currently at 1.8 percent and the UK has an official target of two percent.

“Parents can’t afford childcare easily, but can’t afford not to use it either, as that means one parent giving up work, which can mean an unmanageable reduction in household income. “The government needs to raise support for childcare costs to meet the demands of modern families, whose living costs usually require two incomes.”

The government does provide support for families on low incomes with the likes of Child Benefit and Universal Credit. However many will be examining what is announced in the upcoming budget to see if families can receive any more relief.

While little has been confirmed, it is likely that support for families raising children will be included as it was a key part of the Conservative Party’s 2019 manifesto.

As it detailed: “Raising a family should be the most fulfilling experience of your life. But for too many parents, the costs of childcare are a heavy burden.