New analysis by the party shows that childminders and private, voluntary and independent (PVI) providers could save around £20 million from Labour’s energy price freeze and £6 million if business rates were cut.
Labour’s plans to freeze energy prices and cut and then freeze business rates were announced by the party’s leader Ed Miliband last September.
A breakdown of the figures reveal PVI providers would save £1,125 each across 2015-17 under the plans.
Freezing of energy rates alone would save nurseries £550 each and individual childminders £120.
The party says that the millions of pounds worth of savings could be passed on to parents and used to bring childcare costs down, increase availability and drive-up quality.
Speaking at the National Day Nurseries Association’s annual conference in Manchester today, Labour’s shadow childcare minister Lucy Powell said, ‘Under David Cameron, childcare costs are rocketing, early years places are falling, and at the same time wages are down £1,600. As family budgets are being squeezed, childcare providers are coming under pressure too.
‘Not only will Labour’s plans give much needed support to families facing a cost-of-living crisis under this Government, but they will be a boost to small business.
‘Labour understands the importance of childcare to our economy and to children — and that’s why we are extending free childcare for working families and introducing a Primary Childcare guarantee.’