How to cut the cost of childcare

Childcare is expensive, yet few people are drawing upon all the government support they are entitled to. Ruth Jackson-Kirby explains what help is available and how to get it.

Children and teachers
Tax relief will help you save on childminders
(Image credit: © Getty Images)

This week the government announced a long overdue consultation on how it can reduce childcare bills. More than a third of a couple’s salary is typically spent on childcare, according to data from the OECD, an association of developed countries. That makes Britain the second-most expensive country for childcare in the world after New Zealand.

Millions of families are struggling to balance working and childcare. Energy bills, food and the soaring price of petrol are adding mounting pressure to household budgets. With inflation at a 40-year high it makes sense to take advantage of government support that can help keep costs down.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.