Greater London Authority (GLA) organisations, such as Transport for London, have introduced a childcare deposit loan scheme for employees.
The new interest-free loan scheme is designed to help working parents cover the up-front costs of childcare provision and support employees in returning to work.
The scheme, which is supported by single-parent charity Gingerbread, will be available to employees across the GLA group, which includes City Hall, London Fire Brigade, London Legacy Development Corporation, the Mayor’s Office for Policing and Crime, the Metropolitan Police Service, Old Oak and Park Royal Development Corporation, and Transport for London.
Sadiq Khan, Mayor of London, said: “London is a city of opportunity for all, and it is unacceptable that parents are being locked out of the workplace because of crippling childcare costs. I’m pleased that we have been able to introduce a childcare deposit loan across the GLA, giving working families a helping hand, but we need more of the capital’s employers to follow our lead.
“I’ve pledged to work with employers to make childcare more affordable and accessible, with a strategy that delivers for [businesses] and [employees] across London. The benefits of accessible, good quality childcare are clear all round; parents will be able to return to work, children will have more access to quality early-years education, and employers will be able to reap the benefits of having skilled and eager parents back in the workplace.”