Childcare costs continue to rise

The Daycare Trust has urged parents to take advantage of childcare vouchers from employers as nursery fees continue to increase at a faster rate than above inflation.

The Annual childcare costs survey from the Daycare Trust shows that parents, on average, now pay £7,000 to £8,000 for a full-time nursery place for a child aged under two years. This represents a rise of 5% in the last year, which is more than twice the rate of inflation (2.1%).

These findings do not do not include government help, childcare vouchers from employers and free nursery places when a child reaches three years of age. 

Alison Garnham, joint-chief executive at the Daycare Trust, said: “Daycare Trust urges all parents to make sure they’re getting all the help they are entitled to; claiming tax credits and vouchers from your employer which can cut the cost of childcare considerably. Parents in the UK are still paying a higher share – around 70% on average of this spiraling cost than their neighbours in Europe, where the average is nearer 30%.”