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What does the budget mean for your childcare costs?

21 March 2013 2 Comments

Are you confused by what the budge means for you? One of the big bits of news if that the Government will be contributing 20% of childcare costs for working families.

And in a bid to make it easy to understand, HM Treasury have created a childcare_infographic so you can see the whole thing in pictures – there’s part of it shown here, but follow the link for the whole thing as it is long!

Key points:

  • nothing will change until Autumn 2015.
  • the rebate is per child, so one child families get up to £1200, two child families up to £2400 etc.
  • you run an account online and for every 80p you put in, the Government adds 20p.
  • to qualify all parents living in the household must be working, not receiving tax credits or Universal Credit
  • this is for anyone earning under £150,000.

What do you think? Is this a good plan? Will it help you?

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