Money Box Live: The Childcare Challenge

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 7 February 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

The price of nursery can be more than a mortgage. In fact, to send a two-year-old to nursery for 50 hours a week, allowing you to work full time, can set you back more than £14,000 a year according to Coram the children's charity.

But, from April this year, working parents in England can claim 15 government funded hours for two year olds, instead of waiting for them to turn three to get help.

Applications for that support are now open - but there are concerns that not all parents will be be able to get their applications processed in time to use them. We've been investigating that, and what else is available to cut childcare costs for mums and dads.

We'll also hear from a nursery owner on the financial pressures of caring for children and talk about the costs of having school age kids.

Felicity Hannah is joined by Paul Rhodes from the Money and Pensions Service and Meghan Meek-O'Connor, senior policy adviser on child poverty at Save the Children UK.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(This episode was first broadcast on the 10th of January at 3pm on Radio 4).

Transcript

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0:00.0	You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.
0:06.5	I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.
0:11.2	I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,
0:16.0	relationships, identity, comedy, even one that mixes poetry, music and inner city life.
0:22.4	So one day I'll be helping host develop their ideas, the next fact-checking, a feature,
0:28.3	and the next looking at how a podcast connects with its audience, and maybe that's you.
0:33.6	So if you like this podcast, check out some others on BBC Sounds.
0:39.5	BBC Sounds, music, radio, podcasts.
0:43.2	Hello, there are big changes coming in this year to help millions of parents in England with childcare.
0:48.7	So that's what we're talking about on this week's Moneybox Live podcast.
0:52.4	Because while the children learn to count...
0:55.1	One, two, three, four, five.
1:02.0	Parents are left counting the cost of some much bigger numbers.
1:06.4	The price of nursery can be more than a mortgage.
1:08.9	In fact, to send a two-year-old to nursery for 50 hours a week, allowing you to work full-time, can set you back more than 14,000 pounds a year, at least until the new funding kicks in. From April this year, working parents in England can claim 15 funded hours for two-year-olds instead of waiting for them to turn three to get help.
1:28.3	Applications for that support are now open.
1:31.3	But let's hear from some parents, including Jasmine, who's a mum of two with one child in nursery.
1:36.3	Hi, Moneybox. I'm Jasmine. I have a son called George, who is two.
1:40.3	He currently goes to nursery four days a week, and that costs us around £1,000 a month,
1:48.3	which is astronomical. It's basically a second mortgage. We are looking forward to the fact
1:54.9	that it can get these 15 free hours in April, but I still don't have a clue how to apply for
1:59.8	them. I do have a tax-free childcare account.
	...

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