- £10 billion spent by parent on childcare during summer holidays
- Another £13 billion goes on holidays and days out
- Half of parents need family for childcare help
The UK’s parents are struggling to fund childcare over the summer holidays with the average parent spending £1,704 for the six weeks of summer leave, coming to £71 a day.
Given that the average income is just £1,770 a month after tax and National Insurance, a month’s income is required just to cover childcare over summer.
Let me entertain you
What’s more these costs are before the UK’s households try and entertain their kids. A further £13 billion goes towards holidays, days out and ice creams.
Luckily almost half of parents have family support when it comes to childcare, but for those that don’t the average summer childcare costs are closer to £2,000.
Those costs are to cover nursery daycare (27%), activity clubs (23%, childminders (20%), summer camps (12%), and nannies (9%).
Childcare costs ‘more than GDP of Iceland’
However it isn’t just money worries with four in ten parents regretting that they weren’t able to spend more time with their kids during the holidays.
Parents are also worried about inconveniencing family and friends and being worried that their kids will be bored.
Commenting on the research Ann Robinson, Director of Consumer Policy at uSwitch, says:
“The amount parents are paying out this summer on childcare is incredible – it’s more than the GDP of Iceland.
“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.”
The research also found that 63% of parents think that the Government’s plan for tax-free childcare don’t go far enough.
Covering the costs
While using a credit card isn’t a long term solution a long-term interest free credit card can help spread the costs in the short term.
Regional breakdown – cost of summer holidays
|Cost of Childcare||Cost of Holidays||% with free family help|
|Yorks & Humber||£41||£977||58%|
|East of England||£55||£790||51%|
Most Stressed Parents
- South East (31%)
- North East / Scotland (30%)
- Yorshire and Humber (29%)
Most Relaxed Parents
- London (39%)
- East of England (34%)
- South West / North East / North West (28%)
*Sample size below 50 respondents