Childcare is costing some families more money than mortgage payments.

A survey in the Irish Independent has found that the bill is outstripping mortgage repayments for most families, at a cost of up to €1,100 euro per month.

That compares to €913 for mortgage repayments, which is the average cost for parents in the key child rearing years of 25-44.

The cost of childcare can rise to as much as €2,000 per month for two children, regardless of whether they use a creche or a childminder.

With the IMF now urging the Government to begin means-testing child benefit, the survey found that thousands of working parents face the prospect of quitting work altogether in an effort to save money on childcare.