Extra free childcare boost announced!
With the cost of childcare making a massive impact on parents wallets, it may feel like the new 30 hour free childcare policy has come at a good time. At the moment all three and four year olds in England are already entitled to 15 free hours, but David Cameron has now doubled the amount for working parents.
The childcare offer, which was one of the Conservative’s key election pledges, will benefit 600,000 families and be worth the equivalent of £5000 a year!
The Government says families will as a result be able to save around £2,500 a year on top of the £2,500 they can already save from existing free child care offers.
The new scheme will come into practice in some areas in September 2016 and will be rolled out nationwide the following year.
The aim of this new scheme is said to be to give parents more of a genuine choice, security and peace of mind when it comes to being able to support their family.
The new pledge may come as a pleasant surprise for working parents, however it has been criticised by some. The Pre-School Learning Alliance has warned the childcare system faces “meltdown” under the new plans if the Government does not raise the amount it pays providers.The charity’s research suggests the total cost to the sector would be approximately £1.95bn per year, but funding at current rates amounts to £1.7bn – a potential shortfall of £250m!
CLICK HERE to find out how you could cut childcare costs to the absolute minimum.