Today Labor has launched the Child Care Calculator so Australian families can find out how much cheaper child care will be under an Albanese Labor Government.
This new website is a useful tool for the over one million families that will be better off under Labor’s Cheaper Child Care for Working Families plan.
Under this plan, Labor will:
- Scrap the $10,560 child care subsidy cap which often sees women losing money from an extra day’s work;
- Lift the maximum child care subsidy rate to 90 per cent; and
- Increase child care subsidy rates and taper them for every family earning less than $530,000.
Labor’s plan will make child care more affordable for 97 per cent of families in the system, and remove financial barriers that disincentivise second income earners, predominantly women, to work full-time.
Importantly, Labor will keep working to fix Australia’s broken child care system, which currently locks out more than 100,000 families because they just can’t afford it.
The Productivity Commission will conduct a comprehensive review of the sector with the aim of implementing a universal 90 per cent subsidy for all families.
The ACCC will design a price regulation mechanism to shed light on costs and fees and drive them down for good. The ACCC will examine the relationship between funding, fees, profits and educators’ salaries.
The Coalition’s child care system has failed parents – particularly women. It has created a financial disincentive for many second wage earners to work full time, or even increase their hours.
On top of that, since this Government was elected in 2013, child care fees have skyrocketed by 35.9 per cent.
Labor has put forward a plan for cheaper child care that is win, win, win – it is good for parents, good for children, and good for the economy.