Monday 26 September 2016

Meet parents half-way on costs of childcare

Published 17/07/2015 | 02:30

It costs more than €100,000 to raise a child in Ireland from the cradle through to completion of their third-level education
It costs more than €100,000 to raise a child in Ireland from the cradle through to completion of their third-level education

The ancient African proverb holds that it takes a village to raise a child.

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But we now know that it costs more than €100,000 to raise a child in Ireland from the cradle through to completion of their third-level education.

Parents, still reeling from the effects of the economic downturn, are struggling to make medium- to long-term provision for their children, particularly as childcare costs in the early years are prohibitive.

Irish parents currently pay higher creche costs than their counterparts in all other European countries: the Irish Government spends about 0.1pc of GDP per year on pre-school services, compared with an OECD average which is five times that, at some 0.75pc.

A new survey has revealed that parents are spending more than €11,000 a year on their children, an unattainable - and unsustainable - toll for many families.

Parents must be met half-way and the gap between Ireland and the OECD must be bridged. Our society and economy pays a high price for the prohibitive costs of childrearing, a vital economic and social good.

Irish Independent

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