A report has suggested that rising costs in childcare is evidence of a "market failure in our childcare system".
It said costs were high because more than 90 per cent of nursery care is provided by private and not-for-profit sectors in England.
- In the last year alone, the average nursery cost for a child aged under two has increased at an above-inflation rate of 4.2 per cent, to around £106 a week for a part-time place at 25 hours a week
- Costs for children aged over two have increased at an even faster rate of 6.6 per cent annually to around £104 a week for a part-time place
- Childcare costs for older children have soared by 9 per cent over the last year, with the typical cost of an after-school club at 15 hours a week reaching around £50
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The news was announced on Instagram by director Spike Lee who described him as a "dear friend" and "a great actor".
In a statement the pair said they remained "great friends" and "will continue to support each other".
The comedian has handed over a not-for-profit cafe he opened last year to a charity that helps ex-prisoners and recovering addicts.