New research has laid bare the damaging financial impact childcare costs are having on families. As any parent knows, the cost of raising a child is expensive enough, but average childcare costs can take a huge chunk out of family budgets.
According to the findings from a survey conducted by charity Pregnant Then Screwed, almost 46 per cent (45.9 per cent) of parents had been plunged into debt, by borrowing money, or had to use money from their savings to pay for childcare - an increase of 30 per cent compared to 2023. These figures rise sharply for single parents, where 66.5 per cent of single parents take on debt to pay for childcare.
