I work 21 hours per week, all from home (barring infrequent client meetings - usually 1 per month, max). I have 30 days (pro-rata) annual leave, plus all bank holidays (not pro-rata). I get as much done in 3 days as I used to in 5, and am paid accordingly--basically, I never have pointless time-sucking meetings or people interrupting because I'm not in the office to chat to! All my work is deadline driven with written deliverables, so it's clear what I've achieved. I've never missed a deadline in 8 years of working, either based in an office or at home. However, when I was office-based, I frequently did unpaid overtime because interruptions and meetings meant I couldn't get my work done in the allotted time. I now log off after my 21 hours are up unless I am not happy with the quality of my work in that time (we all have bad days sometimes!).
Most people at the company I work for have some form of part time, flexible working, and frequently work from home. What this means:
minimal meetings
lack of disruption by colleagues chatting around you
no downtime
a fair distribution of work
good will from everyone because we feel like we're treated really well
parents get to fit their work around childcare are are welcomed back post maternity (or paternity... a couple of dads have shorter days with later starts/early finishes to manage a school run)
I'm encouraging my husband to go part time too as a result of my increased happiness, job satisfaction and improved physical and mental health. We're happy to tighten our belts if it means more time to have an actual life!
People who argue against these (much better) conditions: why? I can understand if you are on a horrible wage and can't afford to cut your hours - I've been there myself, trying to squeeze extra minutes of work in minimum wage temp jobs for an extra few pounds at the end of a week - but the other arguments don't match my experiences or those of others I know at all.