Nursery World - Business

Following the Chancellor's speech, what’s the latest on sources of financial support, and how can settings budget at this uncertain time? Gary Croxon, Early Years Alliance service hub manager, reports

**UPDATED 3rd March 2020 following budget announcement**

Remaining sustainable is always at the forefront of our minds, and more so than ever during the pandemic. Forward planning and budgeting are crucial when making sure that your business can continue to educate and care for children for many years to come.

Increases in the National Living Wage, many families choosing to keep their children at home when they would normally use childcare, and an insufficient funding uplift, make it crucial for you to ensure that you are up to date with all the changes.

Wage increases

Staffing costs are often one of your biggest outgoings. This will increase in April, when the National Living Wage (the Government’s national minimum wage for the over-25s) will rise by 2.2 per cent, from £8.72 to £8.91. This rate is also being extended to 23- and 24-year-olds for the first time, while the rate for workers aged between 16 and 22 will increase between 1.5 and 2 per cent. The rate for apprentices will rise by 3.6 per cent to £4.30.

Register now to continue reading

Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:

What's included