Childcare vouchers can save money for both businesses and working parents.
Busy Bees Group are campaigning to have the current rate of £55 per week; which hasn’t been increased since it was set in 2006; increased to £75 per week
The Busy Bees group feel the government should do much more for working parents to help with childcare costs, £75 is an achievable target, which will make a real difference to working parents.
Childcare vouchers are non-taxable and National Insurance exempt. Working parents can exchange part of their salary, currently up to £55 per week; equivalent to £243 per calendar month; for childcare vouchers which can be used to pay for any registered childcare provider for children up to the age of 16.
Once the childcare voucher has been deducted the remaining salary is then calculated for Tax and National Insurance.
The eventual aim of the campaign is to achieve a policy change by the 2013 budget.
Raising the cap to £75 per week, will a huge support for working parents, and could help support the sustainability of childcare providers