Reeves Considers Boosting UK Childcare Funding to Fuel Growth
- Chancellor considers proposal to fund more nursery spaces
- Childcare costs, short supply are drag on UK productivity
Rachel Reeves
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Rachel Reeves is considering proposals for a funding package to expand childcare services, as one of the UK chancellor’s growth-driving measures in a budget widely expected to be dominated by tax rises.
The Department for Education has asked the Treasury for more money to increase the number of nurseries and nursery staff, people familiar with the matter said. Reeves is receptive in principle and sees parents returning to work as a way to boost growth and improve productivity, though one person warned she is yet to sign off any spending plans for the Oct. 30 budget and is unlikely to approve large commitments given the strain on public finances.