The select committee's report has been described in the Financial Times (25/3/18) 'MPs release damning report on childcare policy'. Reading the conclusions and recommendations it is easy to see why the FT went for such a strongly worded headline. The publication of the select committee' views (read the full detail here) listed on the Parliament website show that the MPs thought:
The Treasury has made little effort to calculate the economic impact of the Government’s childcare interventions.
(When speaking of the retrospective payments made in Universal credit) a fundamental design flaw
Tax-Free Childcare is a clearly under-performing scheme
Setting the (30 hours) funding level with reference to wage and overheads data that is more than five years old is unsatisfactory
Clearly the select committee feels that there is much work to be done to ensure that the current childcare policies are effective and reach the families for which they were intended. The Pre-school Learning Alliance has commented on the committee's findings, you can read their press release here. The NDNA has similarly responded, their piece is here.