FT News Briefing UK childcare in crisis
Dec 22, 2022
Big Tech is trimming down on European offices to save costs, while Tesla's stock falls below ExxonMobil's for the first time in years. The discussion pivots to the childcare crisis in the UK, spotlighting staggering costs that strain family budgets. Personal stories reveal mothers like Jess grappling with tough decisions between work and childcare affordability. The financial hardships faced by parents are examined, alongside the broader implications of these challenges on women's choices regarding family planning.
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UK Childcare Crisis
- UK childcare is the most expensive globally, according to the OECD.
- Parents spend up to two-thirds of their weekly income on toddler care, and availability is decreasing.
Preschool Struggles
- Claer Barrett visited Little Jewels, a London preschool, to investigate rising childcare costs.
- Manager Vlora Afiri struggles with increased expenses and staff shortages, with some preferring higher-paying retail jobs.
Working Mothers' Dilemma
- Mother Jess had to reduce her working hours because childcare costs would consume almost all of her salary.
- She feels resentment at having to sacrifice her career ambitions for childcare.