Education Secretary Gillian Keegan has taken further steps to address the issue of hidden childcare costs, writing to the Competition and Markets Authority (CMA) to examine the childcare market and launch a free online tool to help families find affordable childcare and budget for costs.
According to a spokesperson for the Department for Education, the CMA's investigation will focus on the transparency and competition within the childcare market, with a view to identifying areas where families are being taken advantage of by unscrupulous providers.
The free online tool, designed to provide families with a clearer understanding of the costs involved in childcare and how to budget, is now available on the UK Government's website. This tool allows parents to input their location and childcare requirements, providing them with a list of local childcare providers and estimated costs.
Experts have long highlighted the issue of hidden childcare costs, which can include items such as additional fees for activities, equipment, and late pick-ups. These costs can quickly add up, leaving many families struggling to make ends meet.
The UK Government's move comes as part of its ongoing efforts to support families and address the cost of living crisis. Education Secretary Gillian Keegan stated, 'We want to ensure that families have access to affordable and high-quality childcare, and this includes transparency around the costs involved.'
The CMA's investigation is expected to be completed within the next six months, with the authority set to make recommendations to the Government on how to address any issues identified.