Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 25th of September 2018
November 29, 2011

LV= welcomes increased free childcare

by Richard Kilner

Story link: LV= welcomes increased free childcare

LV=’s head of protection, Mark Jones, has welcomed the announcement in the Autumn Statement that the Government is to provide 40% of 2 year olds with 15 hours of free childcare a week.

According to LV=’s Cost of a Child report the average cost of childcare is £67,430 per child, and adds particular strain to family finances when economic times are tough.

The Autumn Statement, delivered by Chancellor George Osborne in the House of Commons, also drew some support from the Association of British Insurers (ABI).

The ABI’s Director General Otto Thoresen welcomed the establishment of an Insurers’ Infrastructure Investment Forum, and the involvement of ministers.

However, Thoresen was more circumspect regarding business finance partnership and credit easing, stating that he appreciated the need to increase lending but warning that the devil was in the detail.

 

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