Responding to news that the Government is increasing the value of its childcare allowance to a maximum of £2000 per year, KPMGs Jayne Vaughan says:
"For far too long there has been an unconscious bias in the workplace, with the automatic assumption being that women will be the ones to step back from their career and take responsibility for childcare. Yet, as research from The 30% Club shows, men and women have similar career aspirations, meaning that today's announcement is a welcome move in the battle to remove the barriers that restrict the talent pipeline Britain's businesses need to succeed."
"It is also obviously good news for families, at a time when many are feeling the pinch through the rising cost of living. The more Britons can get out to work, the more the economy will start really working. Balancing childcare and careers – and managing the considerable cost of childcare – can be a significant challenge for families at all income levels."
"The question that remains is how far employers and their staff will go to ensure this scheme works. The hope must be that, with greater financial support, women who would otherwise be lost to the working population, will want to remain in the workplace. But at the same time, greater authenticity is needed from Board and Executive Committee members around the issue of diversity at work. People always perform better when they feel supported by their employers, so the extent to which employers back the programme will be a key measure of its success."
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Mike Petrook, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.