All childcare government subsidy is really just a subsidy for banks.
It's only required because banks have duped the public into taking out joint income mortgages as the norm.
In 1998 mortgages were typically 3 times main income plus one times second.
Average wage was £17k, count £9k for second income = 3 x £17k plus 1 x £9k = £60k
The average house was £60k.
Since then banks have persuaded people to take on more debt because lending makes them more profit.
Banks want people to do 4 times joint income mortgages.
Average wage is £25k count £15k for second income = 4 x £40k = £160k.
Average house is £160k
Applying the old 3 times main plus 1 times second income to wages today house prices should be 3 x £25k plus 1 x £15k = £90k.
£160k is a 77.7% increase on the £90k. Deliberately caused by banks.
At the average mortgage rate of 6% over 25 years people pay 92p in interest per pound borrowed.
Mortgage payments on £60k were £386 a month. Mortgage payments on £160k are £1,030 a month.
The mortgage payment has gone up 167% while the two wages combined have gone up just 54% from £26k to £40k. This is called debt slavery to banks.
Government subsidy for childcare means that women work for a second income that via a larger mortgage caused by higher house prices, is going directly to banks.
Second incomes are not required for the economy. Why should women work and pay tax to receive childcare benefit but pay the balance of their wage to a banker?
If women chose to work in the past they could spend a second income on luxuries - now it just goes to a banker.
When house prices were cheaper lots of mothers didn't want to work and didn't need to pay for childcare. They spent the week looking after children.
This meant spending money in shops, cafes, etc. keeping the retail sector going.
Now those women are at work full time and instead of spending money they are just a debt slave to a bank!
Childcare is only necessary because house prices are so high so mortgage payments are so much higher because that's what banks want!
Banks have persuaded people that debt is wealth. They have pulled off the biggest confidence trick in history!
It is simply astonishing that so called experts and economists cannot see why the economy is failing.
Banks are sucking too much money out of it via high house prices.