News

Childcare loan scheme could help businesses keep staff

The British Chambers of Commerce is calling for a childcare loan scheme for parents to help businesses retain staff who start a family.

Within its Business Manifesto, ‘A Business Plan for Britain’, the British Chambers of Commerce (BCC), which represents thousands of businesses across the UK, argues that to retain the ‘best talent’ and develop ‘business leaders of tomorrow’ increased financial support for working parents to access childcare is needed.

It proposes introducing a Childcare Contribution Scheme (CCS) for working parents with a child under five, similar to a student loan, which could be used to pay for ‘high-quality’ childcare.

The proposal comes two years after Ryan Shorthouse, former researcher at the Social Market Foundation (SMF), originally put forward the idea.

Families eligible for the CSC would need to be in a household where the main earner is on at least £12,000 per year, the equivalent of full-time work at the minimum wage.

Register now to continue reading

Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:

What's included

  • Free access to 4 subscriber-only articles per month

  • Unlimited access to news and opinion

  • Email newsletter providing activity ideas, best practice and breaking news

Register

Already have an account? Sign in here