£1bn childcare investment to deliver much needed help for parents in Bedford Borough

Families in Bedford Borough are to get greater financial support for childcare thanks to a major new initiative; from Autumn 2015 the government will meet 20% of childcare costs for working families.

This scheme will save the typical working family with two children up to £2,400 a year.

Liberal Democrat analysis shows that the £1bn boost to help parents with childcare costs could benefit around 6,575 families in Bedford Borough.

Deputy Prime Minister and Leader of the Liberal Democrats, Nick Clegg said:

"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 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."