The SMF has proposed a national childcare loan scheme in which parents earning more than £12,000 a year could request a lump sum to be repaid monthly through the tax system over an extended period and at a low interest rate.
An SMF report gives the example of a family paying £7,800 for childcare over three years. Under the scheme, their repayments would fall from £50 a week over three years to £14 a week over 11 years.
A mortgage to pay for child care.
No, really, I just don\’t see it somehow.