Childcare costs account for nearly a third of average family's income
Almost a third of the average family’s income is spent on childcare costs, new research has revealed.
The average weekly cost for a nursery place in the UK now stands at £177 a week – twice the global average – according to the report published by the Organisation for Economic Co-operation and Development.
Costs have risen every year for 10 years leading to some parents being “priced out of work”, charities claim.
“Childcare is so expensive it is becoming a luxury that only families earning a very good wage can comfortably afford,” said Sally Copley, head of UK policy at Save the Children.
“For families on low incomes, they simply will not earn enough to cover their childcare bill – effectively pricing the poorest families out of work.”