Nursery World - Lack of affordable, accessible childcare is costing the economy billions in lost earnings

The UK is losing 1 per cent of its GDP, equivalent to £27bn, due to a lack of suitable childcare, warns a new economic think tank report.

The CPP are calling for childcare to be regarded as vital infrastructure to allow 'borrowing for investment', PHOTO: CPP

The Centre for Progressive Policy (CPP) says that as a country we are losing at least £9.4bn in additional earnings each year due to a lack of suitable childcare preventing mums from working the hours they would like.

It estimates, in total, that the UK is losing 1 per cent of GDP, upwards of £27bn, because of this.

CPP is now calling on the Government to recognise childcare as infrastructure in national spending frameworks so it can borrow to invest in provision.

The think tank’s new report, ‘Growing pains: the economic costs of a failing childcare system’, includes findings from a survey of 2,545 mothers with at least one child aged ten or under. The survey focused exclusively on women as it is believed they are the ones disproportionately affected by the availability of childcare.

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