The number of working parents has hit a 15-year high as families struggle with the higher cost of living in recent years, according to a YouGov survey.

The poll found that 2.2m parents stay at home to look after their children, down from the 2.8m in a similar study in 1993.

According to the research, one third of working parents thought they would give their children a better quality of life by remaining at home and 70% would choose to stay at home with their children if money was no object.

But 18% of parents of children under two said they had no option but to stay at home due to the rising costs of childcare, which has increased by 33% in the last six years.

"People who want to stay at home can't afford to due to rising household bills, and even people who want to return to work can't afford to either, due to the high cost of childcare," said Ann Robinson, director of consumer policy at uSwitch.com. "As a result, both parents and children are losing out."