NI families using loans to pay for childcare
By News Northern Ireland,

A new study from Employers for Childcare has found that many families struggle to pay for childcare and are turning to credit cards and loans to meet rising costs.

The report found full time places are costing an average of £162 a week, representing an increase of 2.5% compared on last year.

Of the 4,500 parents surveyed, 60% of families struggle to meet the costs while a third said it was their biggest outgoing.

Mairaid McMahon from Employers for Childcare, said: “The rising cost of childcare is having serious effects on local families, with many parents making financial sacrifices just to make ends meet.

“We’ve heard from parents who are reducing their hours, or leaving work altogether, due to the high cost of childcare, as well as 22% of respondents who are relying on loans or credit cards to pay their childcare bills.”

She added: “We are calling on our devolved institutions to take some urgent action to help local parents navigate this increasingly complex, and expensive, system.”

Employers for Childcare said more needs to be done to improve affordability and provide better information for parents on help available.

The organisation called on the NI Executive to recognise the contribution to economic growth and social inclusion that affordable childcare can have.