CYP Now - Spring Budget 2023: Early years leaders warn funding must account for rising costs

Early years leaders are urging the Chancellor of the Exchequer Jeremy Hunt to ensure that any additional investment for the sector accounts for rising prices, following reports he will announce funding to reduce childcare costs in the upcoming Budget.

Jeremy Hunt will announce his next Budget on Wednesday. Picture: UK Parliament

Hunt is expected to announce additional investment to reduce the cost of childcare for parents as part of Wednesday’s (15 March) Budget, according to reports from the BBC.

The funding will be part of a “comprehensive package of measures” to encourage people to enter the workforce, Hunt told the BBC. Announcements are expected to include plans for the government to pay childcare support to parents on universal credit upfront, as opposed to the current system which requires parents to reclaim costs after paying the fees.

Hunt is also expected to announce a several hundred pound increase to the maximum amount that people on universal credit can claim for childcare, according to the BBC.

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