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Childcare costs 'outstripping pay'

A recent survey of family finances suggests that rising childcare costs are making it more cost-effective for some parents to give up work and stay at home rather than pay for childcare.

The report, from insurer Aviva, presents a picture of fragile family budgets, with rising costs and falling savings. It says parents with part-time jobs are weighing up the value of working.

"It's quite possible we will see more and more couples relying on one salary while the other person looks after the children," said an Aviva spokeswoman.

The study, based on 6,000 families, says that 32,000 women have left the workforce since last year after their income was "eroded by the associated costs of working".

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TweetA recent survey of family finances suggests that rising childcare costs are making it more cost-effective for some parents to give up work and stay at home rather than pay for childcare. The report, from insurer Aviva, presents a picture of fragile family budgets, with rising costs and falling savings. It says parents with part-time jobs are weighing up the value of working. "It's ...

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