Under liberal democrat plans, working parents might receive 35 hours of free childcare weekly for their kids who are aged 9 to 24 months. Lib Dems also promised to be offering children aged 2 to 4 years with 30 hours of free childcare in 48 weeks per annum.
Jo Swinson, who is scheduled to launch the policy at Battersea on Saturday, noted that the high-priced cost of childcare makes most parents incapable and hopeless to go back to work. This dramatically affects the economy, as most talented individuals in the country are left with no choice but to have to stay at home to take care of their kids.
Swinson noted that economic growth is motivating them to come up with this kind of strategy of giving free childcare to children who are nine months and above.
The strategy of offering free childcare will help in closing the gap between free childcare provision and paid parental leave. It will also help parents in deciding when to go back to work as soon as able and help in building and shaping the economy of the country.
According to the party, these plans are scheduled to cost about$14.6 billion annually, and it will be funded through increasing the capital gains tax and reversing cuts to corporation tax for the next five years. John McDonell, shadow cancellor for the Labour, has already implied his intent to increase borrowing to fund this “social transformation fund”. However, the conservatives rejected their plans to extend childcare.
This announcement has come at a time when labor has also promised to give free childcare for 30 hours weekly for those children aged two to four years.
Labor also promised to offer Parents who have children aged 3 to 4 years with free childcare for 15 hours weekly and 30 hours for a particular group of people that have to go through a strict criterion.
Lib Dems believe that this will be one step towards achieving the economic goals of the country.