Young parents are getting some much-needed help with childcare costs after the latest UK Budget announced an expansion of free childcare for one and two year olds.

The budget’s £4 billion plan to provide an extra 30 hours a week of childcare for UK parents with children in this age group and to increase funding for the current three-year-old childcare programme will indeed reduce the financial cost for young parents.

It is worth noting that families with 1 and 2 year olds are currently not supported until after parental leave and until free childcare is provided for 3 and 4 year olds. It is likely that more policy support will come from the government in the future. This is because the cost of childcare has always been an important part of a family.

As many of you know, raising children in the UK is an expensive business, especially if you need or want to work, and a recent report shows that parents in the UK spend more than two thirds of their wages on children’s education, which is a financial strain on many people.

When this plan is implemented, parents will pay significantly less for childcare, from the cost of nursery or babysitting for small children to the cost of all-round care for older children through holidays and after-school clubs. We look forward to getting it up and running!

With the increased pressure on people’s lives at the moment, almost a quarter of parents have had to cut back on essentials such as food, heating or clothing to enable them to afford to look after their children at home. With the global economy recovering, the British are hoping to change this!