Soaring cost of childcare
No wonder it is expensive to bring up children. In January 2012, childcare costs were a whopping £63,099 of a total cost of raising a child until their 21st birthday of £218,000. A recent report by Conservative MP Elizabeth Truss shone a spotlight on this; the report said UK has the second highest costs of childcare in Europe: 26.6% of average family incomes, or 40.9% of the average UK wage. Truss sees a solution in simplified regulation — freeing up workers to care for more children at the same time. Under current rules there has to be one carer for three children aged five or younger. Truss...