Fathers cannot afford paternity leave
New fathers are being stopped from taking paternity leave as cash runs short and bosses look unkindly on requests.
Despite new laws saying fathers are entitled to a fortnight off work, in the vast majority of cases dads take less than a week.
Just one father in three (37 per cent) takes their full paternity entitlement, figures from ING Direct reveal.
And a lack of money seems to be the principal reason dads are returning to work sooner than they have to, with nearly half (48 per cent) of fathers saying financial considerations are a key factor for staying at work.
This is because, while legally men are entitled to two weeks paid paternity leave, the basic pay on leave is just £108.85 a week. If employers do not add to this basic allowance a man on average pay would lose out on £724 of earnings over this period.
After monetary constraints, work responsibilities are the next biggest concern. One father in ten feels their career would suffer if they took time off work to spend with their newborn, a fifth are needed back in work 'urgently', and one in eight says their employer is not parent friendly.
"Our research shows that men continue to choose to return to work early, with many mentioning the high financial cost of taking paternity leave as an important factor," said Lindsay Sinclair of ING Direct.
"It also appears that parents may not be making the right financial plans, with one in six men saying they regret not having enough savings to be able to take their full leave.
"With good financial planning, new dads won't have to cut short their paternity leave."
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