Struggling parents spend £10 billion on childcare during school summer holidays
Parents across the UK are dealing with a summer nightmare of having to fund childcare for their little ones, with the average parent spending £1,704 over the six week period or £71 per day, according to uSwitch.com.
With the average income currently just £1,770 per month after tax and NI, many parents are faced with the very real prospect of setting aside an entire month’s take-home pay to cover childcare. And this bill comes before families have had any fun: parents plan to spend an additional £13 billion on holidays, days out and ice creams, according to the research.
The good news is that almost half of parents (48%) seeking childcare have the support of wider family to look after their children for free this summer. However, those not lucky enough to have free help this summer may end up paying an average figure closer to £2,000 on childcare over the summer period.
Nursery daycare (27%) and activity clubs (23%) are the most popular choices this summer, while 20% turn to childminders, 12% send their children to summer camps and 9% hire a nanny. Some 11% will even pay family members to help out.
But it’s not just the financial cost of the school summer holidays which is taking its toll on working parents. Almost four in ten (39%) regret that they are not able to spend as much time with their children as they would like and one in three (29%) worry that they are inconveniencing their family and friends by asking them to look after their children. Parents are split with one in five (21%) assured that their children will enjoy a summer without seeing their parents that often, while one in five (21%) worry that their kids will be bored.
Overall, a quarter of parents (26%) find the school summer holidays a stressful time of year and one in five (19%) find them complicated, perhaps with the extra organising of activities and juggling of finances. However, thankfully, four in ten (40%) do manage to let their hair down and have some fun.
Ann Robinson, Director of Consumer Policy at uSwitch.com, says: "The amount parents are paying out this summer on childcare is incredible - it's more than the GDP of Iceland. And this is just for the privilege of going to work, when many would really rather be out having fun with their families.
"The Government has acknowledged that the skyrocketing cost of childcare needs to be addressed, but parents say the proposed measures do not go far enough. These figures should be a wake-up call for the political parties to put this issue at the forefront of their manifestos this autumn.”
Regional differences
Wales has the most free family support (76%) and spends the least on childcare at £34 per day
London spends the most on childcare, £103 per day
Children in the East of England seem to be the most entertained with 43% of parents happy their children are getting a variety of experiences, well above the national average of 30%
Parents in the South West have the most fun during the summer holidays (50%) contrary to the North East where the smallest number find them fun (31%)
Parents in London are the most relaxed (39%)
Parents in South East are the most stressed (31%)
Parents in London spend the most on holidays, £1,079, over the six week period
Wales comes out top again having to spend the least amount on holidays at £634.
