New research by pension provider, Penfold, shows that the average cost of childcare for under-twos in Scotland could hit £58.60 a day and £1,165.95 per month by April 2023. Although this is still lower than the UK average there are growing concerns about the impact the increase could have on parents as nursery fees continue to rise.
A recent survey of 1,156 UK nursery providers by the Early Years Alliance revealed that almost nine in 10 said that they would ‘probably’ or ‘definitely’ increase their fees in 2023. This could see early years providers increase their prices by an average of eight per cent, suggests Penfold.
Penfold has investigated the growing cost of childcare for under-twos in full-time nursery care at over 800 day nurseries across the UK and found that the average cost to put your child into a nursery full-time is £55.39 a day or £1,106.52 a month.
