Falling occupancy levels, fee rises outstripping inflation by 22 per cent in the past five years, and the ever-growing threat from state-subsidised provision - the private sector has never faced such a stark challenge.
With 25 per cent of private-sector capacity unused, providers are alarmed at Government plans to forge ahead with plans for hundreds of children's centres, many of which will create new and - in many cases, providers feel - unnecessary childcare places, each costing an estimated 15,000.
Amid this gathering commercial gloom, private providers and local authorities are watching with interest - and a degree of hopeful anticipation - the evolution of the London Childcare Affordability Programme (CAP).
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