The funded hourly rate varies from region to region.
For example, our hourly rate at nursery works out at 5.90 per hour (full day fee divided by total opening hours) our funded rate is £3.60.
Theres no cost to parents as they can send them for just the funded hours (term time only) but it means nursery is still running at a loss per hour.
The Government agreed to still pay the funding rates to help nurseries get through this.
Our monthly outgoings are £35,000 and wages our are biggest outgoing followed by rent, rates, insurances and fees and food. Our food bill alone is £2,000 a month.
While childcare is a killer, please don't for one minute think we are rolling in it.
1 full time child fee doesn't cover a full time member of staffs wages. The funded hours save parents money but it doesnt match the nurseries hourly rate.
I don't believe any childcare provider is "rolling in it" - my issue is paying a hefty sum for childcare nil received. It should not be on me to keep a nursery or childminder "running" when there is government help provided. My family have stopped charging rent for the pub they are leasing as they have been forced to close - I don't understand why as parents we need to keep the nurseries going or "keep a place" when our own income has been largely affected as well.