Significant Childcare Funding Announced for Families
A Guide to the Game-Changing Childcare Funding Initiatives Announced in the Chancellor’s Spring Budget 2023
Generous and far-reaching childcare funding reforms were announced in the Spring Budget 2023 last month. The Chancellor of the Exchequer’s new funding plans should give more parents, including those of even younger children, access to significant help with childcare costs going forwards. The new initiatives will:
- allow
parents to return to the workplace sooner after the birth of their child if they so choose;
- help fill vacant jobs in the workplace;
- allow parents (particularly women) to progress their careers sooner after starting a family;
- help to boost the UK economy, and;
- perhaps most importantly give more children access to a good early years education, starting potentially at a younger age. Beginning no later than the age of 2 has been shown to better prepare children for the transition to school, boost children’s education overall, improve GCSE grades, improve career prospects and even increase earning potential once they reach adulthood. Learn more about the benefits of a good early years education here.
So, the new childcare funding should make a huge difference for those families that are eligible. Let’s take a look at the 3 key childcare funding initiatives announced…