Media comment: Childcare reforms announced in budget a “double dividend” for parents

Published on:

16 March 2023

The Money and Pensions Service has responded to the Government’s announcement that parents on Universal Credit will receive more money for childcare costs and won’t have to pay it up front.

Nick Hill, Senior Advice Manager at the Money and Pensions Service, said:

“Receiving help with their childcare costs up front is a double dividend for many parents. Not only can they stop having to find the whole amount in advance, which left some in a cycle of debt, but they can also plan their finances much more easily.

“The significant increases in how much they’re entitled to will also make a massive difference to household budgets at a time when some will need it the most.

“If you’re struggling financially, or things are heading that way, it’s crucial to check for any benefits you’re eligible for and aren’t yet claiming. Our free calculator at MoneyHelper.org.uk provides a very quick answer on what you might be missing out on, so I’d urge everyone to log on today.”

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Media enquiries

For media enquiries please contact: MaPS Press Office 020 8132 5284Opens in a new window | [email protected]Opens in a new window

About the Money and Pensions Service 

Our vision is “Better financial futures for everyone in need.”

We offer free, impartial help and guidance on money and pensions via www.moneyhelper.org.ukOpens in a new window and 0800 011 3797. For services in Welsh, please visit www.helpwrarian.org.ukOpens in a new window or call 0800 756 1012. The service includes a range of free tools, plus the opportunity to speak to an expert via WhatsApp, phone, email or live chat.

We also co-ordinate the UK Strategy for Financial Wellbeing, working with partners and stakeholders to help everyone find their way forward and build a better financial future.

We are an arms-length body, sponsored by the Department for Work and Pensions and funded by levies on both the financial services industry and pension schemes.

For more information, see Who we are or read our annual corporate plan and strategy.

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Media enquiries

For media enquiries please contact MaPS Press Office:

020 8132 5284Opens in a new window

[email protected]Opens in a new window