The Mayor of London has encouraged employers across the capital to make childcare more accessible for working families as figures show parents are being ‘locked out of workplace’ by rising costs and expensive upfront deposits for nursery places.
A new childcare deposit loan will be introduced by the Mayor across all organisations in the Greater London Authority (GLA) family, giving parents a helping hand getting back to work.
“I’m pleased that we have been able to introduce a childcare deposit loan across the GLA, giving working families a helping hand, but we need more of the capital’s employers to follow our lead. I’ve pledged to work with employers to make childcare more affordable and accessible, with a strategy that delivers for business and workers across London,” said Mayor of London, Sadiq Khan
In London childcare currently costs 34 percent more than the national average, while 90 percent of providers charge upfront cost of up to £1,500.
Childcare cost in the capital is preventing parents from starting a new job or returning back to work, on average, single parents in London spend half their take home pay on nursery place, according to figures from City Hall.