Think tank: Centre for Progressive Policy
Author(s): Ben Franklin; Rosie Fogden
March 6, 2023
This report from UK think tank the Centre for Progressive Policy looks at the economic costs of a failing childcare system.
A new report from economics thinktank the Centre for Progressive Policy (CPP) lays bare the economics costs of the lack of accessible, affordable childcare in the UK, as pressure grows for action on childcare costs in the Budget. CPP finds that: the UK is losing at least £9.4bn in additional earnings per year as a lack of suitable childcare is preventing mums from working the hours they would like to; the estimated lost economic output is upwards of £27bn equivalent to 1% of GDP. CPP is calling for childcare to be classed as infrastructure to allow for investment to boost economic growth CPP is calling on the government to recognise childcare as infrastructure in national spending frameworks, so that it can borrow to invest in provision.