Childcare loans scheme proposed by thinktank
At the other end of the age spectrum a new childcare loan idea by a think tank has much to offer potentially to rural parents. Assuming the challenges of finding enough local childcare places can also be addressed. The article concerning this issue says:
Parents should be able to borrow money from the government to cover childcare costs to make it more financially viable for them to return to work, a thinktank has suggested.
The Social Market Foundation (SMF) has proposed a National Childcare Contribution Scheme which would allow parents to borrow up to £10,000 to pay for childcare, which they would then pay back through their wages in a system similar to student loans.
The SMF said the proposals, which were set out in a report called A Better Beginning: Easing the cost of childcare, would extend access to formal childcare to more children and families by allowing parents to spread the cost without creating additional costs for the government.
It argues that “high-quality formal childcare has a critical role to play in substantially improving the development of all children”, but says it is becoming increasingly difficult for those on low incomes to afford it.
“For many parents, mothers in particular, the cost of childcare is too high and often makes paid employment financially unviable,” the report said