Will today's Budget address childcare costs?
The odds are stacked against women when it comes to economic equality and financial empowerment. And it doesn't help that financial institutions largely exclude women. The whole system needs an overhaul, but in the meantime we want to answer your money, finance and economics questions. Every week we'll answer one of your questions in a useful and straightforward way.
... There has been a lot of pressure on the chancellor to address problems with childcare, the cost of which has been rising as we covered in a previous newsletter.
Different groups have been lobbying the government for extra funding and early years support, including extending free childcare to under two-year olds.
The Women’s Budget Group (WBG) has asked for a boost by £1.75bn and a raise to the ceiling of total childcare costs that will be reimbursed for parents through Universal Credit.
Sarah Ronan, early education and childcare lead at WBG, said: “If the chancellor is serious about growing the economy and supporting families through the cost of living crisis, he needs to prioritise investment in early education and childcare. Years of chronic underfunding have led to extortionate fees for parents, providers closing down and early years workers leaving the sector because of poor pay. Mothers are being forced out of work at a time when bills are rising, and children are being denied vital early education that sets them up for life.”
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