Computershare Voucher Services (CVS), the UK’s largest dedicated childcare voucher provider, has praised moves being made by the Government to help tackle spiralling childcare costs.
Prime Minister David Cameron recently announced that he intends to set up a new commission that will focus on childcare and work with parents and providers to try and find ways to make childcare more affordable.
As well as looking at ways to reduce the cost of childcare, the commission will consider international childcare models and ways to increase places and “wrap-around care” for children over-five during holidays and out-of-school hours.
Recent figures from the Daycare Trust show working parents are now paying, on average, £15,000 per year for childcare – more than a third of their income – and with little financial help*.
According to the Trust, the high cost of childcare is forcing many parents to consider sacrificing work in order to care for their children, whilst living off national benefits.
Julian Foster, managing director of Computershare Voucher Services (CVS) said: “We welcome the introduction of the commission and moves being made by the Government to help support parents, especially in the current climate. There is an obvious need to balance the need for quality childcare with affordability and it will be interesting to see what conclusions the commission arrives at.
“Times are very tough for many UK families and it’s great that the Government is starting to address some of these issues and recognising the extreme financial burden of childcare costs.”
He added: “CVS has long been campaigning for additional support to be made available for working parents, such as by increasing the tax-free limits on childcare vouchers in line with increasing childcare costs or by making the vouchers scheme available to the self-employed, so they can also benefit from the savings.
“We hope that the feasibility of these measures will now be seriously considered, as they could make a huge difference to many parents.”
For more information about childcare vouchers visit www.computersharevoucherservices.com