A ‘universal childcare guarantee’ for children up to 11 would boost economy by extra £13 billion a year, report finds
- Universally accessible and affordable childcare would create a ‘double dividend’ for UK economy, say IPPR and Save the Children
- Change would increase parents’ earnings by £13 billion a year while generating £8 billion per year for the Treasury, close gender pay gap and help more women to progress at work
- Families on lowest incomes would gain most and 1.6 million children would benefit financially, according to joint report
Investing in a universal guarantee of affordable childcare for all families until the end of primary school has long been seen as a route to raising educational attainment, narrowing the gap for disadvantaged children and helping achieve equal pay for women.
Now a new report has found that it would also yield a double dividend to the economy, through the resulting increase in parents returning to work, or extending their hours.
