Abstract:
High-quality, affordable formal childcare is critical for children’s development and parental employment, bringing significant private and public benefits. In this analysis, the SMF explores the changing level of financial support and the rising cost of formal childcare between 2006-07 – the high-water mark of public financial support for childcare – and 2015-16. The paper demonstrates how childcare affordability has deteriorated and will continue to decline in the years ahead.