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Childcare costs 'up 6%'

The cost of a full-time nursery place has doubled in the last ten years, setting parents back around £11,000 a year, a new report has found. Average cost rose by 6% last year.

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Cost of full-time nursery place around '£11,000 a year'

The cost of a full-time nursery place has doubled in the last ten years, setting parents back around £11,000 a year.

A charity has warned that fees are comparable to those charged by private schools, as many parents are forced to take on a "second mortgage" to cover the costs.

Nursery fees are comparable to that of private education, a charity has warned Credit: Edmond Terakopian/PA Wire

A report by the Daycare Trust and the Family and Parenting Institute found that the typical cost per hour for a nursery place for a child aged under two years old has risen by more than three quarters since 2003 to £4.26.

The report argued that childcare costs are becoming increasingly difficult for families to manage, as wages fail to grow with the costs.

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