Child Care in the UK Is the Most Expensive in the World

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Parents spend up to two thirds of their weekly take home pay on out-of-home care for toddlers. The FT's consumer editor Claire Barrett investigated her country's child care crisis and devoted an entire episode of her money clinic podcast to the issue. Three quarters of parents, according to a recent survey, are spending more on their monthly child care bills than on their mortgage or rents. We went to visit a preschool in North London called Little Jules which is attached at the back of a church.

Big Tech groups are ditching offices that are part of their European headquarters to cut costs and Tesla has fallen below ExxonMobil in stock market value for the first time since 2020. Plus, the FT’s Claer Barrett explains how British families are coping with the sky-high cost of childcare.

Mentioned in this podcast:

US tech giants ditch European offices

Money Clinic Podcast: Childcare in crisis

Tesla share slide sends valuation below ExxonMobil

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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