The most expensive countries to raise a child

According to a new report of OECD nations, UK childcare is the most expensive in the world.

Or, at least the most expensive of the countries surveyed.

The Society at a Glance report 2016 found that the average childcare costs of OECD nations were around 15 per cent of the net family income.

The UK topped the ranking of 30 developed countries, with net childcare costs amounting to around 33.8 per cent of family net income.

The second highest per cent was in New Zealand (29 per cent), followed by Ireland (27.4 per cent) and the US (25.6 per cent).

For a ranking see the chart by Statista, below:

The report said:

Such high costs are a strong deterrent to employment. It may not be financially worthwhile for both partners to work, and it is usually the mother who stays at home.

The report also highlighted how a poor childcare infrastructure contributed to disparity between men and women in employment figures.

Being a woman adds to the risk of becoming NEET [Not in Education, Employment, or Training] particularly on a long‑term basis. Many young women care for children and other family members at home. Consequently, women are 1.4 times more likely to be NEET than young men. Single parents find it particularly hard to combine caring for children with employment or further education. The availability of affordable childcare is thus crucial to improving young women’s job prospects

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