WEARSIDE families are paying more on average for part-time childcare than they spend on their mortgages, according to a new report.
It reveals parents are handing over more than £7,500 a year for childcare for two children – about 4.7 per cent more than the average mortgage bill.
The report, by the Family and Childcare Trust, also suggests that some families may be spending more on childcare than they do on their weekly food shopping.
Anand Shukla, chief executive at Family and Childcare Trust, said: “When even part-time childcare costs outstrip the average mortgage for a family home – and many parents have to spend more than a quarter of their income on childcare – it’s clear that our childcare system isn’t fit for purpose. We need a childcare system that helps parents who want to work and contribute to the economy and gives children the best start in life. The Family and Childcare Trust wants to see all political parties commit to a long-term childcare strategy that delivers for parents, providers, and crucially, for children.”