As well as the emotional toll, returning to work after spending a long time on leave with a baby is tough especially with the soaring childcare costs and many are struggling financially or even end up in debt each month so they end up quitting as a result.
A study by UN Women UK found 25% of mothers with children aged up to 18 years old and 33% with children under five have had to unwillingly give up work and 26% have had to reduce their working hours for childcare reasons.
One European nation has come up with a solution and made a offer to women of child bearing age which not only helps with the financial side but the falling fertility rate.
Mothers in Hungary who have two or three children will be exempt from paying income tax for life and women with one child will be exempt until they turn 30.
Hungary had a fertility rate of 1.5 which by comparison, the UK had a rate of 1.6 but a rate of 2.1 is thought to be required to sustain a nation's population level.
Can't see it catching on here though unfortunately.
Tuesday, 18 March 2025
Mum's The Word To Tax Man
Subscribe to:
Post Comments (Atom)
1 comment:
why not just make child care free for families earning less than one million pounds? all you have to do is raise more taxes or run up more debt... plus the government is better at doing things that any other entity so it is a win win
Post a Comment