A new report has revealed that almost one in five parents (17 percent) have been forced into quitting their jobs due to the cost of childcare in the UK.
New research, which was conducted by campaign group Pregnant Then Screwed, found that the rising costs of childcare in UK causes anxiety among 84 percent of parents.
And as a result, 62 percent admitted they have felt pressure to work fewer hours due to the extortionate price, despite a government scheme in place to ease the financial burden for employed parents.
The study, which surveyed around 1,800 parents, found it was women who bear the brunt of childcare cost, further adding to the "motherhood penalty" and the "gender pay gap".
At present, there is tax free childcare for those who are employed, and 30 hours 'free' childcare from three-years-old if you meet the criteria.
As maternity leave finishes at nine months it means that parents have over two years of "extortionate costs" if they continue working.
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Founder of Pregnant Then Screwed Joeli Brearley said the current childcare system was "failing parents, childcare providers and childcare staff".
She added that the government "needs to subsidised childcare from nine-months-old" rather than their current offering.
Joeli told Tyla: "Our latest piece of research highlights exactly why women fall behind in the workplace, and that is because of the punitive costs of childcare.
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"If we are to change the landscape for women, and parents, we need to provide properly subsidised childcare from nine-months-old. The Government have introduced 30 hours 'free' childcare for from three-years-old, and tax-free childcare for employees; this is not enough and impacts not only the parents but childcare providers as they are unable to cover the cost of delivery.
"Women only get one year of maternity leave with only nine months paid, so there are two years that they either stay at home with the children because of the high cost of childcare or return to work with a huge bill hanging over them - with many reducing their hours in order to strike a balance," she added.
"Childcare is infrastructure. Our childcare system is failing parents, it is failing childcare providers and it is failing childcare staff.
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"We need the Government to create a childcare system that works so that nurseries can stay open and provide good quality care and so that we can close the gender pay gap and start to tackle the motherhood penalty."
The shocking research comes after the Organisation for Economic Co-Operation and Development (OECD) revealed that the UK has one of the most expensive childcare systems in the world.
In light of the new report by Pregnant Then Screwed, a government spokesperson told the Independent: "We are investing record amounts in childcare and early education, including around £3.5bn on our free early education entitlements this year alone - and 600,000 three and four-year-olds have benefited from a 30 hours place in the first two years of the delivery of the programme.
"Working parents are also benefiting from help with their childcare costs through Tax-Free Childcare and Universal Credit.
Adding: "We want to support early years providers in delivering high quality care and education, which is why we recently announced an extra £66m to increase hourly rates for the Government's free hours offers for 2020-21."
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