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Families in the U.K. now pay more childcare than their mortgage. The annual costs raising children are now outstripping yearly housing loan repayments. This is according a survey conducted Britain's Family and Childcare Trust. The organization says that in some parts the country, nursery fees have risen 13 per cent the past year. The cost for babysitters and child-minders has risen by an average of four per cent. The report's author Jill Rutter told the Nursery World website that her findings showed that childcare in the U.K. is becoming less and less affordable families. She also said an insufficient number places in nurseries shows the U.K.'s system isn't working.

The report could well make would-be parents think twice starting a family, or about the number children they have. A family of four with one child attending a nursery and another in an -school club spends an average $12,571 a year. This compares the average yearly housing loan payments of $12,000. Families are now spending a quarter of their income childcare. This does not include the costs of feeding, clothing and entertaining children. There are also the costs toys, books and electronic gadgets that. The chief executive of the Trust warned that when many parents have to spend more than a quarter of their income childcare, it's clear that the system "isn't fit purpose".

 


 
 

 

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