An Albanese Labor Government will reduce the cost of childcare and make it easier for parents, children and working families to get ahead.
- Lift the maximum childcare subsidy rate to 90 per cent for families for the first child in care;
- Increase childcare subsidy rates for every family with one child in care earning less than $530,000 in household income.
- Keep higher childcare subsidy rates for the second and additional children in care;
- Extend the increased subsidy to outside school hours care.
96 per cent of Australian families will be better off under Labor’s childcare reforms – 1.26 million families.
We’ll also get the ACCC to design a price regulation mechanism to drive out of pocket costs down for good, and 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.
Labor will also develop and implement a whole of government Early Years Strategy to create a new integrated approach to the early years and develop of program of action.
Labor will invest approximately $5.4 billion to make childcare cheaper, starting from July 2023.