Opinion

Ben Franklin: 'Why investment in childcare is crucial'

Going forwards, the Government must view childcare as a vital part of economic development that benefits everyone regardless of status, says Ben Franklin
Ben Franklin
Ben Franklin

Childcare is economic infrastructure. At the Centre for Progressive Policy, we have estimated widely accessible high-quality childcare could boost UK GDP by 1 per cent, or up to £27 billion, as parents are better able to progress in work. To try and reap this reward, the Conservative Government has started expanding the 30 hour a week subsidy to working parents of children under three – with roll-out planned to be complete by September 2025.

But as those working across the sector will know, Government subsidies were already insufficient for funding the places of three- and four-year-olds, so this latest expansion – which Labour has also now signed up to – will simply squeeze margins even further. The risk of policy failure here is huge – our latest research estimates that we will need an extra 28,000 workers by the end of 2025 to meet likely demand from parents.

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