A ‘universal childcare guarantee’ would boost UK economy

A ‘universal childcare guarantee’ for children up to age 11 would boost economy by extra £13 billion a year, a report finds.

The research by the Institute for Public Policy Research (IPPR) found that providing access to affordable childcare for all families could slash nearly £2.8 billion from government spending through the resulting increase in parents returning to work or extending their hours.

It would mean some 700,000 household could see their incomes rise and, whilst, at the same time, reducing the current high cost of childcare for families from between £620 and £6,175 a year.

With more women returning to full time work and progressing further and faster in their careers, the gender pay gap would also narrow.

The report sets out the steps needed to boost economic growth which start with increasing funding for free hours of childcare and extending wraparound care.

More info: www.bit.ly/IPPRchildcare

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