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£1bn childcare investment to deliver much needed help for parents in Hinckley and Bosworth

March 21, 2013 10:29 PM

Families in Hinckley and Bosworth are to get greater financial support for childcare thanks to a major new initiative.

Liberal Democrat analysis shows that the £1bn boost nationally to help parents with childcare costs could benefit around 3,942 families in Hinckley and Bosworth

The Coalition Government's scheme will save the typical working family with two children up to £2,400 a year.

Cllr Michael Mullaney the local Liberal Democrat Parliamentary Spokesman has today welcomed the plans, which were announced by Deputy Prime Minister, Nick Clegg, as "much needed help" for working families.

Commenting, Michael Mullaney said:

"Everyone knows that the cost of childcare is a big worry for many families. Almost a quarter of employed mothers say they would like to work longer hours but can't do so because of the cost of childcare.

"Making sure all families, and mothers in particular, can afford to work is important to help build a stronger economy as well as deliver a fairer society. This has been an absolute priority for Nick Clegg and the Liberal Democrats and I am delighted we are able to give parents this much needed help.

"The rising cost of childcare is one of the biggest challenges parents face and it means many mums and dads simply can't afford to work. This not only hurts them financially, but is bad for the economy too.

"This announcement of a £1bn investment in childcare will make sure it pays to work.

"An extra £1,200 for each child will make a real difference to families in Hinckley and Bosworth and families across the country, who find it constantly worrying about how to juggle the family budget.

"Extending support for working families on Universal Credit will also make sure it is worth working extra hours even if you're on low wages."