The CBI has successfully called on the government to reform childcare. These are the reasons it's needed.
Childcare provision in the UK is at crisis point – and it matters. For the families affected. The businesses that lose out on valuable talent. And the economy that’s weaker for it.
Here are five reasons behind the CBI’s campaign:
- It’s contributing to labour market shortages
According to the Office for National Statistics, there are 1.7 million people currently economically inactive who would like to work – 21% of them cite caring responsibilities as the main reason behind it. 29% of mothers with a child aged 14 or under have said they had reduced their working hours for childcare reasons. A similar proportion of mothers and fathers report facing obstacles in fulfilling childcare responsibilities within their work life. All of which costs businesses valuable expertise and limits their chance to grow.
- It’s exacerbating the cost-of-living crisis
Childcare costs in the UK are now some of the highest in the OECD. Full-time nursery for children under the
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