Showing families the money
The Federal Government might have a bit more cash to splash than was anticipated, reports this morning say. And as the Morrison Government limbers up for next week’s Budget, child care affordability was in focus with $1.7 billion in new funding to give Aussie families with one child in child care 95% of their out-of-pocket expenses for any additional kids. And all families – regardless of the number of kids – could benefit from the scrapping of the $10,560 cap on childcare subsidies. It should add 300,000 hours of work to the economy a week and $1.5 billion a year to gross domestic product, Treasurer Josh Frydenberg said yesterday. The proposal won the endorsement of key sector figures who say it is a step in the right direction of removing the disincentives for women to return to the workforce. Others pointed out it’s some way off with the measure to kick off in July 2022. Labor leader Anthony Albanese poo-pooed the idea saying it “does nothing to move towards a universal, affordable child care system, something that Labor says we need to do”.
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