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Personally, I think if you are in a position to do it, it is better for the child for a parent to be at home.
However, this can't be an absolute rule.
If the parent ends up resenting the decision so much that they ruin their relationship with the child, then this is obviously not going to be in the child's long-term best interest.
Likewise, if it would be so economically arduous that the family would have to go without essentials like proper healthcare, accommodation, food, etc; then this would obviously create its own problems.
Having said all this, if the decision is for the parent to work, then I would think that the child being minded by a grandparent (or similar) would be better than a child care centre. That is assuming that the grandparent is reasonable and responsible.
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