@Snowdrop98 A PP very helpfully posted posted the reading framework earlier. Here it is again:
https://assets.publishing.service.gov.uk/media/664f600c05e5fe28788fc437/The_reading_framework_.pdf
Page 18 discusses one implication. With a phonics-led approach the focus on reading is decoding. It isn't until year 2 and into key stage 2 that schools start to focus on meaning/comprehension. A child maybe able to read out loud confidently but it is very important to check how much they have taken away from the text. A lot of mental effort goes into sounding out each word, it's very easy to lose track.
Think of it like this. You could, with good phonics knowledge, be able to decode a page of Spanish with a fairly decent accent, but without understanding the meaning of what is being read.
Phonics doesn't teach the meaning of words, how to analyse words, or vocabulary. In fact, the vocabulary a child is exposed to is limited by the sounds they know. A phonics led approach depends on parents and teachers talking through the books with the child to broaden their vocabulary etc. In reality, if schools are under pressure to perform well in phonics tests, they may neglect this crucial part of the picture. I'm sure some schools get the balance spot on, but for many I imagine that is not the case. It's not surprising that reading for pleasure has declined dramatically in recent years.
i believe the most important part of reading is comprehension. Other approaches start this much earlier.
Again, just to reiterate, I'm not anti-phonics. Phonics are an essential skill, but they are not the only one.
I think thile best way to support a child as a parent is to read with them, talk about books, what's happening in the pictures. What do they think will happen next? The first phonics books with no words are some of the most important.