Local MPs Ben Everitt (Milton Keynes North) and Iain Stewart (Milton Keynes South) are delighted that childcare providers in Milton Keynes will receive a huge 32.4 per cent increase to the hourly rate for two-year-olds.
There will also be a 3.2 per cent increase to their hourly childcare payments for children aged three to four.
Through a new standalone top-up grant called the Early Years Supplementary Grant (EYSG), local authorities will receive this funding, representing a total of additional £204 million in funding for childcare providers.
It will take the average rate paid for places for three and four-year-olds from its current £5.29 per hour to £5.65 per hour, and take the average rate paid for places for two-year-olds from its current £6.00 per hour to £7.95 per hour.
This funding boost is vital to support the sector as the Conservative Government rolls out record reforms across childcare services, including 30 hours free childcare to all under four children by 2025.
As more families can rely on affordable childcare, parents will be able to take up more work and help grow the economy.
Ben Everitt, the MP for Milton Keynes North, said: “Supporting and expanding our childcare sector means more parents can return to work or progress in the workplace and I was delighted to welcome Children's Minister Claire Coutinho to visit Acorn Nurseries in Emberton and Pebbles Children's Centre in Fishermead recently to discuss the needs of nursery providers.
“So it’s fantastic news that providers in Milton Keynes will see their hourly payments increase for the children they look after with a massive 32.4 per cent boost for two year olds and a 3.2 per cent increase for three to four year olds.
“The Conservatives are rightly making sure more parents can rely on affordable childcare, allowing them to take up more work and help grow the economy.”
Iain Stewart, the MP for Milton Keynes South, said: “It is excellent news that childcare providers across Milton Keynes will be receiving a 3.2% increase to their hourly childcare payments for children aged three to four as well as a 32.4% increase to the hourly rate for two-year-olds through the Early Years Supplementary Grant.
“This extra funding will not only allow parents to access childcare but also give parents the opportunity to seek employment and provide for their family.”
Gillian Keegan, Education Secretary, commented: “Today is a great step forward as we deliver on the largest ever expansion of childcare which will be transformational for working families and will help grow our economy.
“I want childcare to be truly affordable and available when and where parents need it.
“This initial investment of over £200 million will go a long way in supporting the fantastic early years sector to prepare for the expansion of free childcare hours available to parents next year.”