Big banks 'should pay for extended free childcare'

Big banks should pay for extended free childcare to help ease cost of living pressures on families, Ed Miliband has told Daybreak.

The Labour leader said he wants to extend the free childcare for three and four-year-olds from 15 to 25 hours a week, which he claims would be the equivalent of about £1,500 a year saving for families who "are really struggling to cope.

"The banks are actually making very big profits and I think they can afford a bit more to help families," he said.

"It's one of those things that is going to be good for the country, because not every parent is going to want to work... but seven out of 10 mums are saying 'I want to go back to work but I can't because of the cost of childcare'".

Advertisement

Miliband criticises childcare cost

Labour leader Ed Miliband has attacked the Government's failure to provide cheap childcare. He will claim the cost of a nursery price has risen by 30% since 2010 - almost five times faster than the average wage.