I know that the cost of childcare is an ever growing concern for parents in Southwark and across London
The cost of nursery places has risen hugely, over a short space of time, and families are feeling the pinch.
It is now estimated that the cost of a full time nursery place for a child under two, is around £13,000, having grown by 60 per cent in cash terms between 2010 and 2021.
These completely unfeasible costs are having a severe knock on impact on families and on the sector as a whole. One in four parents have been forced to quit work or exit education due to eye-watering childcare costs, and 32,000 women left the workforce in just a year to stay home with children.
Additionally, childcare providers themselves are also struggling.
Childcare crisis: ‘Parents are resorting to nanny-poaching in school playgrounds’
Due to under funding by the Government, there has been an eighty seven per cent increase in nursery closures in 2022 compared to the previous year. In real terms, this is almost four thousand childcare providers lost across the country, and the sector continues to struggle. The recent childcare offer from the Government is a hollow gift as it does not give any help to providers to increase spaces.
This situation is untenable, with families struggling and the economy suffering as parents withdraw from the workforce. Families deserve access to high quality, affordable childcare, and we must see action from the Government to support Londoners.
Londoners are facing even more challenges, with the Bank of England raising inflation to five per cent, with predictions suggesting we could reach 5.5% before Christmas.
This shows that Londoners are still feeling the after-effects of last year’s disastrous mini-budget. This is particularly apparent with mortgages, as fixed rate deals expire, payments are rising massively, and some homeowners are being forced to consider selling. A real mortgage crisis is looming, and the Government must act now to prevent disaster.
Finally, some good news on the National Sports Centre at Crystal Palace, which I know many residents in Southwark use.
Locals welcome Crystal Palace National Sports Centre renovations
The Mayor of London, Sadiq Khan has pledged millions of pounds towards a revamp of the centre, with a new athletics hub. Although this work may take some years, the Mayor has also committed to a number of short-term improvements which will really make a difference to all those who use this centre.