Make childcare costs 100% tax deductible
Responsible department: Her Majesty's Treasury
In Europe parents spend an average of 13% of salaries on childcare; 5% in Sweden and 27% in the UK. One way the UK Government can reduce the burden of childcare costs is to make childcare costs 100% tax deductible for all workers. Many UK workers - including the self-employed - do not have access to a childcare voucher scheme (which currently gives basic rate tax payers a tax exempt entitlement of £55/week).
We the undersigned support a move to make childcare costs 100% tax deductible for all workers. The loss of tax revenue could be offset by closing loopholes that allow UK based individuals and organisations to shield their finances from HMRC in places such as Jersey and Guernsey.
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