The Government's Money Helper website says the average cost of sending a child under the age of two to nursery full time is £14,030 a year.
Having a child 'feels like financial suicide' for parents, the head of a charity has said, after a study found more Britons are taking on debt to pay for childcare. Commissioned by campaign group Pregnant Then Screwed, the survey said almost half of parents of under-fives in England say they have taken financial blows as the cost of childcare bites.
Polling also found that around 70% of mothers agreed that 'after paying for childcare it doesn't make financial sense' for them to go to work. Half of the fathers surveyed felt the same. It comes after it was announced last year that from April, eligible working parents of two-year-olds will be able to get free 15 hours of childcare support. From September, the 15 hours will be extended to parents of children aged nine months to three years.
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