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Credit crunch hits childcare

More needs to be done to help families with the cost of childcare, says a new report that looks at the impact of the credit crunch on ordinary families.

The Family and Parenting Institute is urging the Government not to losesight of the importance of affordable high-quality childcare. Itsreport, Families and the credit crunch, highlights how families whopreviously felt financially secure are now worried about how they willcope as recession hits.

In an online survey of 5,300 families, the FPI found that 35 per centsaid money worries caused them sleepless nights. Just under half wereworried about heating their home (47 per cent), followed by mortgage orrent payments (36 per cent) and food costs (31 per cent).

The report calls for a review of the childcare element of the workingtax credit and universal provision of free after-school clubs to helpparents meet childcare costs.

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